USD/TWD may rise to 32.997 - 33.293

Our pivot point is at 31.902.

Our preference

The upside prevails as long as 31.902 is support.

Alternative scenario

The downside breakout of 31.902 would call for 31.406 and 31.110.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.249 and 32.249).

Supports and resistances

33.886 **

33.590 *

33.293 **

32.997

32.400 last

32.097

31.902 **

31.406 *

31.110 **

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