- USD/TWD is currently trading around 31.00 marks.
- It made intraday high at 31.02 and low at 30.84 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 30.87, 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 0.13 pct higher at 10,932.70 points.
- Taiwan will release M2 money supply data around 0820 GMT.
We prefer to take long position on USD/TWD only above 31.02, stop loss at 30.90 and target of 31.22/31.40.
