Published: 2024-11-27T06:09:22.000Z
Chart USD/TWD Update: Consolidating, room for higher later
Technical Analyst
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Extending consolidation below the 32.660 high with choppy trade tracing out a bullish triangle pattern
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 32.920 | ** | 31 Jul YTD high | S1 | 32.400 | * | congestion | |
| R3 | 32.800 | * | congestion | S2 | 32.350 | ** | Oct high | |
| R2 | 32.690 | * | Apr high | S3 | 32.200 | * | congestion | |
| R1 | 32.660 | * | 14 Nov high | S4 | 32.050 | * | 8 Nov low |
06:00 GMT - Extending consolidation below the 32.660 high with choppy trade tracing out a bullish triangle pattern and suggest scope for break to extend gains from the September low. Above the 32.660 high will see room to the 32.690 resistance then the 32.800 cpmgestion. Gains beyond this will expose the July YTD high at 32.920 to retest and where reaction can be expected. Support at the 32.400/32.350 area now underpin and protect the downside. Below this open up room for deeper pullback to retrace the September/November rally and see room to 32.200 congestion.