USD/TWD may fall 98 - 137 pips

32.293 is our pivot point.

Our preference

The downside prevails as long as 32.293 is resistance.

Alternative scenario

The upside breakout of 32.293, would call for 32.359 and 32.398.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.255 and 32.271).

Supports and resistances

32.398 **

32.359 *

32.293 **

32.268

32.227 last

32.129

32.090 **

32.051 *

32.012 **

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