USD/TWD may rise 105 - 152 pips

Our pivot point stands at 32.120.

Our preference

The upside prevails as long as 32.120 is support.

Alternative scenario

The downside breakout of 32.120 would call for 32.040 and 31.993.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.168 and 32.166).

Supports and resistances

32.445 **

32.397 *

32.350 **

32.303

32.198 last

32.151

32.120 **

32.040 *

31.993 **

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