Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Taiwanese dollar trades marginally lower, stay bullish only above 29.42 mark

  • USD/TWD is currently trading around 29.33 marks.
     
  • It made intraday high at 29.37 and low at 29.33 marks.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 29.42 mark.
     
  • A daily close above 29.28 will drag the parity up towards key resistances around 29.42, 29.56, 29.65, 29.90, 30.02, 30.22 and 30.30 marks respectively.
  • On the other side, key support levels are seen at 29.30, 29.15, 29.02, 28.99, 28.89, 28.77 and 28.49 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
     
  • Taiwan stocks open up 0.4 pct at 10,891.66 points.

We prefer to take long position on USD/TWD only above 29.42 mark, stop loss 29.20 and target of 29.65.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.