USD/TWD may rise 136 - 184 pips

32.083 is our pivot point.

Our preference

Our next up target stands at 32.380.

Alternative scenario

The downside breakout of 32.083 would call for 32.002 and 31.954.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.162 and 32.171).

Supports and resistances

32.477 **

32.428 *

32.380 **

32.332

32.196 last

32.115

32.083 **

32.002 *

31.954 **

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