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FxWirePro: Taiwanese dollar erases previous gains against USD, good to buy on dips

Friday, August 12, 2016 4:03 AM UTC

USD/TWD is currently trading around 31.32 marks.
It made intraday high at 31.36 and low at 31.19 marks.
Intraday bias remains bullish till the time pair holds key support at 30.99 marks.
A sustain close below 30.99 mark will test key supports at 30.85 and 30.39 marks respectively.
Alternatively, reversal from key support will drag the parity up towards key resistances around 31.40, 31.62, 31.93, 32.12, 32.25, 32.43 and 32.63 marks respectively.

We prefer to take long position in USD/TWD only above 31.40, stop loss 30.99 and target 31.62/31.93.

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FxWirePro: Taiwanese dollar erases previous gains against USD, good to buy on dips

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