- USD/TWD is currently trading around 29.88 marks.
- It made intraday high at 30.05 and low at 29.80 marks.
- Intraday bias remains neutral for the moment.
- A daily close above 30.02 will drag the parity up towards key resistances around 30.28, 30.50, 30.70, 30.87, 31.02, 31.22, 31.40, 31.71 and 31.90 marks respectively.
- On the other side, key support levels are seen at 29.70, 29.46, 29.28, 29.11 and 29.00 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Taiwanese stock was trading around 0.40 pct lower at 10,935.15 points.
We prefer to take short position on USD/TWD around 30.00, stop loss at 30.15 and target of 29.70/29.46.
