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FxWirePro: USD/TWD breaks key support at 30.30 mark, good to sell on rallies

  • USD/TWD is currently trading around 30.32 marks.
     
  • It made intraday high at 30.42 and low at 30.26 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 30.50 marks.

  • A daily close above 30.40 will drag the parity up towards key resistances around 30.50, 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 30.30, 30.20, 30.06, 29.92, 29.85, 29.76 and 29.61 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
     
  • Taiwan stocks open up 0.3 pct at 9,657.05 points.

We prefer to take short position in USD/TWD around 30.35, stop loss at 30.47 and target of 30.20/30.06.

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October 24 09:00 UTC Released

EZMarkit Comp Flash PMI

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55.9 bln EUR

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56.5 bln EUR

Previous

56.7 bln EUR

October 24 09:00 UTC Released

EZMarkit Serv Flash PMI

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54.9 bln EUR

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55.6 bln EUR

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55.8 bln EUR

October 24 12:55 UTC 213213m

USRedbook MM

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-1.4 %

October 24 12:55 UTC 213213m

USRedbook YY

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3.6 %

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USRedbook MM

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-1.4 %

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USRedbook YY

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3.6 %

October 24 13:00 UTC 218218m

MXFlash Trd Bal Non-EU*

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-0.7 Bln EUR

October 24 13:00 UTC 218218m

MX1st Half-Mth Infl YY*

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1.00 %

October 24 13:00 UTC 218218m

USIGAE Econ Activity MM

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-0.7 %

October 24 13:00 UTC 218218m

MXIGAE Econ Activity YY

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1.50 %

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1.00 %

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