USD/TWD may fall 112 - 163 pips

32.123 is our pivot point.

Our preference

Target 31.873.

Alternative scenario

The upside breakout of 32.123, would call for 32.209 and 32.261.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (32.088) but above its 50 period moving average (32.023).

Supports and resistances

32.261 **

32.209 *

32.123 **

32.089

32.036 last

31.924

31.873 **

31.821 *

31.770 **

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