USD/TWD may rise 113 - 164 pips

Our pivot point is at 31.991.

Our preference

Our next up target stands at 32.223.

Alternative scenario

Below 31.991, expect 31.905 and 31.853.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.049 and 32.058).

Supports and resistances

32.326 **

32.275 *

32.223 **

32.172

32.059 last

32.025

31.991 **

31.905 *

31.853 **

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