USD/TWD may rise 131 - 179 pips

Our pivot point stands at 32.032.

Our preference

Rebound.

Alternative scenario

The downside breakout of 32.032 would call for 31.953 and 31.905.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (32.104) but below its 50 period moving average (32.128).

Supports and resistances

32.388 **

32.341 *

32.294 **

32.246

32.115 last

32.063

32.032 **

31.953 *

31.905 **

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