- USD/TWD is currently trading around 30.70 marks.
- It made intraday high at 30.76 and low at 30.61 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 30.91 marks.
- A daily close above 30.71 will drag the parity up towards key resistances around 30.91, 31.02, 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 30.60, 30.48 and 30.39 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Taiwan stocks open down 0.1 pct at 9,757.67 points.
- Taiwan’s January unemployment rate 3.84 pct s/adj.
We prefer to go short on USD/TWD around 30.72 with stop loss at 30.91 and target of 30.60/30.45/30.39.
