FxWirePro: Taiwanese dollar strengthens against USD, upside limited

• USD/TWD is currently trading around 32.01 mark,
   
• It made intraday high at 32.09 and low at 31.97 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 32.09 marks.
   
• A sustain close below 31.87 mark will tests key supports at 31.72, 31.58, 31.40 and 31.17 marks respectively.
   
• Alternatively, reversal from key support will drag the parity higher back above 32.09 marks to test key resistances at 32.17, 32.25, 32.43 and 32.63 marks respectively.
   
• In addition, Taiwan stocks close up 0.5 pct at 9,056.56 points.

We prefer to take short position in USD/TWD around 32.02, stop loss 32.13 and target 31.87/31.72/31.58 marks.