- USD/TWD is currently trading around 30.92 marks.
- It made intraday high at 30.93 and low at 30.83 marks.
- Intraday bias remains bullish till the time pair holds key support at 30.70 mark.
- A daily close above 30.89 will drag the parity up towards key resistances around 30.95, 31.04, 31.18, 31.28, 31.42 and 31.77 marks respectively.
- On the other side, key support levels are seen at 30.70, 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.
- Taiwan will release export orders data, balance of payments as well as current account data around 0800 GMT.
- Taiwan stocks open down 0.4 pct at 9,788.95 points.
We prefer to take long position on USD/TWD only above 30.95, stop loss at 30.70 and target of 31.04/31.18/31.42.