USD/TWD may rise 85 - 121 pips

Our pivot point is at 32.308.

Our preference

Rebound.

Alternative scenario

Below 32.308, expect 32.249 and 32.213.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (32.382) but below its 50 period moving average (32.434).

Supports and resistances

32.617 **

32.581 *

32.546 **

32.510

32.425 last

32.332

32.308 **

32.249 *

32.213 **

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