USD/TWD may rise to 32.973 - 33.245

Our pivot point is at 31.924.

Our preference

The upside prevails as long as 31.924 is support.

Alternative scenario

The downside breakout of 31.924 would call for 31.469 and 31.199.

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 trading above both its 20 and 50 period moving average (respectively at 32.271 and 32.282).

Supports and resistances

33.788 **

33.516 *

33.245 **

32.973

32.375 last

32.102

31.924 **

31.469 *

31.199 **

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