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FxWirePro: USD/TWD hovers around 31.00 mark, Taiwan’s industrial output data in focus

  • USD/TWD is currently trading around 30.98 marks.
     
  • It made intraday high at 31.07 and low at 30.95 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 30.87 mark.
     
  • A daily close above 30.94 will drag the parity up towards key resistances around 31.22, 31.40, 31.50, 31.77, 31.90 and 32.46 marks respectively.
  • On the other side, key support levels are seen at 30.87, 30.68, 30.56, 30.45, 30.28, 30.15 and 30.05 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
     
  • Taiwan stocks open down 0.6 pct at 10,734.25 points.
     
  • Taiwan will release industrial output as well as jobless rate data around 0800 GMT.

We prefer to take short position on USD/TWD only below 30.87, stop loss at 31.10 and target of 30.68/30.56.

  • Market Data
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