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FxWirePro: USD/TWD hovers around key resistance at 30.22 mark, sustained close above targets 30.50 mark

  • USD/TWD is currently trading around 30.19 marks.
     
  • It made intraday high at 30.20 and low at 30.10 marks.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 30.22 mark.
     
  • 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 30.10, 30.01, 29.90, 29.72, 29.61 and 29.28 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 0.5 pct at 10,773.85 points.

We prefer to take long position in USD/TWD only above 30.22, stop loss at 30.07 and target of 30.50 mark.

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