USD/TWD may fall 89 - 128 pips

32.390 is our pivot point.

Our preference

The downside prevails as long as 32.390 is resistance.

Alternative scenario

The upside breakout of 32.390, would call for 32.455 and 32.495.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 32.343 and 32.347).

Supports and resistances

32.495 **

32.455 *

32.390 **

32.364

32.333 last

32.244

32.205 **

32.166 *

32.126 **

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