USD/TWD may rise 108 - 159 pips

Our pivot point stands at 31.987.

Our preference

The upside prevails as long as 31.987 is support.

Alternative scenario

Below 31.987, expect 31.901 and 31.849.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.051 and 32.039).

Supports and resistances

32.330 **

32.279 *

32.227 **

32.176

32.068 last

32.021

31.987 **

31.901 *

31.849 **

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