Published: 2024-12-18T06:23:02.000Z
Chart USD/TWD Update: Consolidating at 32.500, room for deeper pullback
Technical Analyst
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Drifting narrowly as prices extend consolidation around the 32.500 level
| 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 | 32.600 | * | congestion | S4 | 32.050 | * | 8 Nov low |
06:15 GMT - Drifting narrowly as prices extend consolidation around the 32.500 level. Daily studies have turned mixed and highlight risk for deeper pullback following rejection from the 32.690 resistance. Pullback see support at the 32.400 congestion then the 32.350/32.330 area. Would take break of the latter to see room for deeper pullback to retrace the September/November rally. Meanwhile, resistance is at 32.600 congestion then the 32.690, April and November highs. Clearance here will return focus to the 32.920, July YTD high.