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FxWirePro: Taiwanese dollar falls gradually against U.S. dollar, stay bullish only above 29.50 mark

  • USD/TWD is currently trading around 29.40 marks.
     
  • It made intraday high at 29.43 and low at 29.33 marks.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 29.50 mark.
     
  • A daily close above 29.42 will drag the parity up towards key resistances around 29.50, 29.65, 29.90, 30.02, 30.22 and 30.30 marks respectively.
  • On the other side, key support levels are seen at 29.20, 28.99, 28.89, 28.77 and 28.49 marks respectively.
     
  • Taiwan stocks open down 1.5 pct at 10,371.01 points.

We prefer to take long position in USD/TWD only above 29.50, stop loss at 29.20 and target of 29.90.

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