USD/TWD may rise 114 - 152 pips

Our pivot point is at 32.478.

Our preference

The upside prevails as long as 32.478 is support.

Alternative scenario

The downside breakout of 32.478 would call for 32.413 and 32.374.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.510 and 32.488).

Supports and resistances

32.771 **

32.732 *

32.693 **

32.655

32.541 last

32.503

32.478 **

32.413 *

32.374 **

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