USD/TWD may fall 115 - 166 pips

32.121 is our pivot point.

Our preference

The downside prevails as long as 32.121 is resistance.

Alternative scenario

Above 32.121, look for 32.207 and 32.259.

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 stands below its 20 and 50 period moving average (respectively at 32.051 and 32.059).

Supports and resistances

32.259 **

32.207 *

32.121 **

32.087

32.041 last

31.926

31.875 **

31.823 *

31.772 **

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