USD/TWD may fall 108 - 156 pips

32.307 is our pivot point.

Our preference

Target 32.079.

Alternative scenario

Above 32.307, look for 32.388 and 32.436.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (32.246) but above its 50 period moving average (32.218).

Supports and resistances

32.436 **

32.388 *

32.307 **

32.275

32.235 last

32.127

32.079 **

32.031 *

31.982 **

Number of asterisks represents the strength of support and resistance levels.