- USD/TWD is currently trading around 31.00 marks.
- It made intraday high at 31.09 and low at 31.00 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.22 mark.
- A daily close above 30.99 will drag the parity up towards key resistances around 31.22, 31.40, 31.50, 31.77, 31.90 and 32.46 marks respectively.
- On the other side, key support levels are seen at 30.89, 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 down and confirms the bearish trend in a daily chart.
- Taiwan stock was trading around 0.37 pct higher at 10,838.44 points.
We prefer to take short position on USD/TWD around 31.05 mark, stop loss at 31.25 and target of 30.68/30.56.
