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

  • USD/TWD is currently trading around 30.17 marks.
     
  • It made intraday high at 30.20 and low at 30.15 marks.
     
  • Intraday bias remains neutral for the moment.
     
  • A daily close above 30.22 will drag the parity up towards key resistances around 30.30, 30.41, 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 30.08, 30.01, 29.90, 29.72, 29.61 and 29.28 marks respectively.
     
  • Taiwan stocks open down 0.3 pct at 10,713.67 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.

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