USD/TWD may rise 90 - 129 pips

Our pivot point stands at 32.364.

Our preference

As long as 32.364 is support look for 32.559.

Alternative scenario

Below 32.364, expect 32.298 and 32.259.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.406 and 32.338). Finally, the USD/TWD has crossed above its upper Bollinger band (32.428).

Supports and resistances

32.637 **

32.598 *

32.559 **

32.520

32.430 last

32.390

32.364 **

32.298 *

32.259 **

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