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FxWirePro: Taiwanese dollar falls gradually against U.S. dollar, Taiwan’s industrial output data in focus

  • USD/TWD is currently trading around 30.26 marks.
     
  • It made intraday high at 30.30 and low at 30.18 marks.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 30.30 mark.
     
  • A daily close above 30.22 will drag the parity up towards key resistances around 30.30, 30.41, 30.50, 30.65, 30.77, 30.90, 31.02, 31.15, 31.26 and 31.44 marks respectively.
     
  • On the other side, key support levels are seen at 30.18, 30.10, 30.01, 29.90, 29.72, 29.61 and 29.28 marks respectively.
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
     
  • Taiwan stocks open up 0.3 pct at 10,759.47 points.
     
  • Taiwan will release industrial output as well as jobless rate at 0800 GMT.

We prefer to take long position in USD/TWD around 30.25, stop loss at 30.10 and target of 30.50 mark.

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