- USD/TWD is currently trading around 31.31 marks.
- It made intraday high at 31.45 and low at 31.25 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.62 marks.
- A daily close above 31.62 will drag the parity up towards key resistances around 31.82, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, key support levels are seen at 31.25, 31.13, 31.09, 30.99, 30.85 and 30.39 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 down 0.1 pct at 9,141.21 points.
We prefer to go short on USD/TWD only below 31.25 with stop loss at 31.62 and target of 30.99.
