USD/TWD may fall 93 - 132 pips

Our pivot point is at 32.417.

Our preference

As long as 32.417 is resistance look for 32.207.

Alternative scenario

The upside breakout of 32.417, would call for 32.482 and 32.522.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 32.343 and 32.358).

Supports and resistances

32.522 **

32.482 *

32.417 **

32.391

32.339 last

32.246

32.207 **

32.168 *

32.128 **

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