USD/TWD may fall 103 - 154 pips

Our pivot point is at 32.107.

Our preference

The downside prevails as long as 32.107 is resistance.

Alternative scenario

Above 32.107, look for 32.194 and 32.245.

Comment

The RSI is below its neutrality area at 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 32.040 and 32.048).

Supports and resistances

32.245 **

32.194 *

32.107 **

32.073

32.022 last

31.919

31.868 **

31.816 *

31.765 **

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