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FxWirePro: USD/TWD breaks key support at 30.25 mark, good to sell on rallies

  • USD/TWD is currently trading around 30.15 marks.
     
  • It made intraday high at 30.38 and low at 30.09 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 30.50 marks.
     
  • A daily close above 30.22 will drag the parity up towards key resistances around 30.50, 30.65, 30.77, 30.90, 31.02, 31.15, 31.26 and 31.44 marks respectively.
     
  • On the other side, key support levels are seen at 30.14, 30.00, 29.90, 29.84, 29.72, 29.61 and 29.28 marks respectively.
     
  • Taiwan stocks open up 0.1 pct at 10,427.83 points.

We prefer to take short position in USD/TWD around 30.20, stop loss 30.50 and target of 29.90.

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