- USD/TWD is currently trading around 30.05 marks.
- It made intraday high at 30.06 and low at 29.95 marks.
- Intraday bias remains bullish for the moment.
- A daily close above 30.02 will drag the parity up towards key resistances around 30.15, 30.40, 30.70, 30.87, 31.02, 31.22, 31.40, 31.71 and 31.90 marks respectively.
- On the other side, key support levels are seen at 29.87, 29.70 and 29.46 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Taiwan’s stock was trading around 0.70 pct lower at 11,674.28 points.
We prefer to take long position on USD/TWD around 30.00, stop loss at 29.87 and target of 30.40.