USD/TWD may fall 104 - 143 pips

Our pivot point stands at 32.518.

Our preference

The downside prevails as long as 32.518 is resistance.

Alternative scenario

Above 32.518, look for 32.583 and 32.622.

Comment

The RSI is below 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 32.482 and 32.511).

Supports and resistances

32.622 **

32.583 *

32.518 **

32.493

32.425 last

32.321

32.282 **

32.244 *

32.205 **

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