USD/TWD may fall 106 - 158 pips

Our pivot point stands at 32.138.

Our preference

Technical rebound towards 32.138 before a new drop.

Alternative scenario

Above 32.138, look for 32.225 and 32.276.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price stands above its 20 period moving average (32.045) but below its 50 period moving average (32.057).

Supports and resistances

32.276 **

32.225 *

32.138 **

32.104

32.053 last

31.947

31.895 **

31.844 *

31.792 **

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