- USD/TWD is currently trading around 31.58 marks.
- It made intraday high at 31.69 and low at 31.55 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.81 marks.
- A daily close above 31.81 will drag the parity up towards key resistances around 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, key support levels are seen at 31.62, 31.50, 31.27, 31.13, 31.09, 30.99, 30.85 and 30.39 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to go short on USD/TWD around 31.70 with stop loss at 31.81 and target of 31.50/31.27.
