USD/TWD may fall 99 - 147 pips

Our pivot point stands at 32.225.

Our preference

The downside prevails as long as 32.225 is resistance.

Alternative scenario

Above 32.225, look for 32.305 and 32.352.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 32.172 and 32.178).

Supports and resistances

32.352 **

32.305 *

32.225 **

32.194

32.152 last

32.053

32.005 **

31.958 *

31.911 **

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