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FxWirePro: USD/TWD remains well supported above 30.00 mark, faces strong support at 29.99 mark

Tuesday, May 16, 2017 4:10 AM UTC

USD/TWD is currently trading around 30.07 marks.
It made intraday high at 30.14 and low at 29.99 marks.
Intraday bias remains bullish till the time pair holds key support at 29.99 mark.
A daily close above 30.03 will drag the parity up towards key resistances around 30.20, 30.32, 30.40, 30.69, 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 30.03, 29.92, 29.85, 29.76 and 29.61 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 flat at 10,037.58 points.

We prefer to take short position in USD/TWD only below 29.99, stop loss at 30.20 and target of 29.90/29.76.

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FxWirePro: USD/TWD remains well supported above 30.00 mark, faces strong support at 29.99 mark

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