- USD/TWD is currently trading around 31.47 marks.
- It made intraday high at 31.50 and low at 31.42 marks.
- Intraday bias remains bullish for the moment.
- A daily close above 31.41 will drag the parity up towards key resistances around 31.50, 31.70, 31.90, 32.46 and 32.78 marks respectively.
- On the other side, key support levels are seen at 31.26, 30.98, 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 up and confirms the bullish trend in a daily chart.
- Taiwan stocks open down 0.3 pct at 10,582.19 points.
We prefer to take long position on USD/TWD only above 31.50, stop loss at 31.20 and target of 31.90.
