USD/TWD may fall to 30.902 - 31.258

32.572 is our pivot point.

Our preference

As long as 32.572 is resistance look for 30.902.

Alternative scenario

The upside breakout of 32.572, would call for 33.173 and 33.530.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the price is trading above its 20 period moving average (31.949) but under its 50 period moving average (32.085).

Supports and resistances

33.530 **

33.173 *

32.572 **

32.336

32.015 last

31.258

30.902 **

30.546 *

30.190 **

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