- USD/TWD is currently trading around 30.21 marks.
- It made intraday high at 30.22 and low at 30.16 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 30.12 marks.
- A daily close above 30.18 will drag the parity up towards key resistances around 30.27, 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 30.12, 30.01, 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. Current upside movement is short term trend correction only.
We prefer to take long position in USD/TWD around 30.20, stop loss at 30.12 and target of 30.40/30.48.
