FxWirePro: USD/TWD enjoys range bound market movement, bias remains neutral

• USD/TWD is currently trading around 32.02 mark,
   
• It made intraday high at 32.09 and low at 31.93 marks.
   
• Intraday bias remains neutral till the time pair holds key resistance at 32.09 marks.
   
• A sustain close below 31.87 mark will tests key supports at 31.72, 31.58, 31.40 and 31.17 marks respectively.
   
• Alternatively, reversal from key support will drag the parity higher back above 32.09 marks to test key resistances at 32.17, 32.25, 32.43 and 32.63 marks respectively.
   
• In addition, Taiwan stocks close down 0.5 pct at 9,013.14 points.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.