USD/TWD may rise 108 - 157 pips

Our pivot point stands at 32.088.

Our preference

Rebound.

Alternative scenario

The downside breakout of 32.088 would call for 32.006 and 31.958.

Comment

The RSI is above 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 trading above its 20 period moving average (32.162) but under its 50 period moving average (32.169).

Supports and resistances

32.422 **

32.373 *

32.325 **

32.276

32.168 last

32.120

32.088 **

32.006 *

31.958 **

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