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FxWirePro: USD/TWD breaks key resistance at 30.50 mark, good to buy on dips

Tuesday, July 4, 2017 4:00 AM UTC

USD/TWD is currently trading around 30.49 marks.
It made intraday high at 30.53 and low at 30.39 marks.
Intraday bias remains bullish till the time pair holds key support at 30.30 marks.
A daily close above 30.51 will drag the parity up towards key resistances around 30.69, 30.90, 31.02, 31.15, 31.26, 31.78, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
On the other side, key support levels are seen at 30.35, 30.24, 30.14, 30.00, 29.90, 29.84, 29.72, 29.61 and 29.28 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Taiwan stocks open down 0.1 pct at 10,397.93 points.

We prefer to take long position in USD/TWD around 30.45, stop loss at 30.24 and target of 30.90.

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FxWirePro: USD/TWD breaks key resistance at 30.50 mark, good to buy on dips

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