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FxWirePro: USD/TWD moves directionless, stay neutral

  • USD/TWD is currently trading around 30.81 marks.
     
  • It made intraday high at 30.85 and low at 30.80 marks.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 30.92 mark.
     
  • A daily close above 30.92 will drag the parity up towards key resistances around 31.02, 31.18, 31.28, 31.42 and 31.77 marks respectively.
  • On the other side, key support levels are seen at 30.75, 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 up 0.3 pct at 10,506.68 points.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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