- USD/TWD is currently trading around 30.51 marks.
- It made intraday high at 30.61 and low at 30.46 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 30.67 marks.
- A daily close above 30.55 will drag the parity up towards key resistances around 30.67, 30.90, 31.02, 31.15, 31.26, 31.78, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, key support levels are seen at 30.42, 30.35, 30.24, 30.14, 30.00, 29.90, 29.84, 29.72, 29.61 and 29.28 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 0.1 pct at 10,310.74 points.
We prefer to take short position in USD/TWD around 30.55, stop loss at 30.67 and target of 30.42.
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