USD/TWD may fall 116 - 165 pips

Our pivot point stands at 32.273.

Our preference

The downside prevails as long as 32.273 is resistance.

Alternative scenario

The upside breakout of 32.273, would call for 32.354 and 32.402.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.228 and 32.237).

Supports and resistances

32.402 **

32.354 *

32.273 **

32.241

32.177 last

32.061

32.012 **

31.964 *

31.916 **

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