USD/TWD may rise 95 - 142 pips

Our pivot point stands at 32.100.

Our preference

Look for a drop towards 32.100 before a bounce.

Alternative scenario

Below 32.100, expect 32.020 and 31.973.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.167 and 32.166).

Supports and resistances

32.413 **

32.366 *

32.319 **

32.272

32.177 last

32.131

32.100 **

32.020 *

31.973 **

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