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FxWirePro: Taiwanese dollar trades marginally higher against U.S. dollar, stay bearish only below 29.92 mark

  • USD/TWD is currently trading around 30.02 marks.
     
  • It made intraday high at 30.06 and low at 30.02 marks.
     
  • Intraday bias remains neutral till the time pair holds key support at 29.92 mark.
     
  • A daily close above 30.10 will drag the parity up towards key resistances around 30.22, 30.30, 30.41, 30.50, 30.65, 30.77, 30.90, 31.02 and 31.44 marks respectively.
  • On the other side, key support levels are seen at 29.92, 29.72, 29.61, 29.40 and 29.28 marks respectively.
     
  • Taiwan stocks open up 0.5 pct at 10,406.35 points.

We prefer to take short position on USD/TWD only below 29.92, stop loss 30.10 and target of 29.72/29.61.

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