FxWirePro: Taiwanese dollar falls in early Asia after Taiwan’s CPI, core CPI data

• USD/TWD is currently trading around 30.42 marks.
   
• It made intraday high at 30.46 and low at 30.31 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 30.38 marks.
   
• A daily close above 30.38 will drag the parity up towards key resistances around 30.48, 30.59, 30.72, 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 30.36, 30.18, 30.06, 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.
   
• Taiwan stocks open flat at 9,946.66 points.
   
• Taiwan’s March CPI +0.18 pct y/y (poll +0.70 pct).
   
• Taiwan’s March WPI +1.84 pct y/y.
   
• Taiwan’s March core CPI +0.95 pct y/y.
   
• Taiwan’s March seasonally adjusted CPI -0.3 pct m/m.

We prefer to take long position in USD/TWD only above 30.48, stop loss 30.30 and target of 30.72/30.97.