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FxWirePro: Taiwanese dollar falls drastically against U.S. dollar, hits lowest level since Jan 2017

  • USD/TWD is currently trading around 31.33 marks.
     
  • It made intraday high at 31.37 and low at 31.16 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 30.98 mark.
     
  • A daily close above 31.20 will drag the parity up towards key resistances around 31.42, 31.77, 31.90 and 32.46 marks respectively.
  • On the other side, key support levels are seen at 31.20, 30.98, 30.68, 30.56, 30.45, 30.28, 30.15 and 30.05 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • Taiwan stocks open up 0.3 pct at 10,508.56 points.


We prefer to take long position on USD/TWD around 31.28, stop loss at 31.00 and target of 31.90.

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