FxWirePro: USD/TWD hovers around 31.00 mark, Taiwan’s interest rate decision in focus

• USD/TWD is currently trading around 30.99 marks.
   
• It made intraday high at 31.03 and low at 30.83 marks.
   
• Intraday bias remains neutral till the time pair holds key resistance at 31.02 mark.
   
• A daily close above 31.02 will drag the parity up towards key resistances around 31.22, 31.40, 31.71, 31.90, 32.46 and 32.88 marks respectively.

• On the other side, key support levels are seen at 30.76, 30.54, 30.38 and 30.11 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Taiwan’s stock was trading 0.38 pct lower at 10,894.53 points.
   
• Taiwan will release interest rate decision around 0800 GMT.

We prefer to take long position on USD/TWD around 30.95, stop loss at 30.70 and target of 31.22/31.40.