- USD/TWD is currently trading around 31.31 marks.
- It made intraday high at 31.40 and low at 31.23 marks.
- Intraday bias remains neutral for the moment.
- A daily close above 31.50 will drag the parity up towards key resistances around 31.71, 31.90, 32.46 and 32.88 marks respectively.
- On the other side, key support levels are seen at 31.18, 31.02, 30.89, 30.68 and 30.56 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Taiwan will release GDP data around 0800 GMT.
- Taiwanese stock was trading around 0.83 pct higher at 10,413.18 points.
We prefer to take long position on USD/TWD only above 31.40, stop loss at 31.10 and target of 31.90.