- USD/TWD is currently trading around 30.92 marks.
- It made intraday high at 31.05 and low at 30.85 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.15 marks.
- A daily close above 30.95 will drag the parity up towards key resistances around 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 30.80, 30.72, 30.60, 30.48 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.
- Taiwan stocks open up 0.3 pct at 9,656.56 points.
We prefer to go short on USD/TWD around 31.00 with stop loss at 31.15 and target of 30.70/30.62.
