USD/TWD may rise 74 - 110 pips

Our pivot point is at 32.353.

Our preference

The upside prevails as long as 32.353 is support.

Alternative scenario

The downside breakout of 32.353 would call for 32.293 and 32.258.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.446 and 32.408).

Supports and resistances

32.665 **

32.630 *

32.594 **

32.558

32.484 last

32.377

32.353 **

32.293 *

32.258 **

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