- USD/TWD is currently trading around 31.40 marks.
- It made intraday high at 31.42 and low at 31.25 marks.
- Intraday bias remains neutral for the moment.
- A daily close above 31.33 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 31.20, 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 up 0.7 pct at 10,497.50 points.
- Taiwan will release CPI as well as WPI data around 0800 GMT.
We prefer to take short position on USD/TWD only below 31.20, stop loss at 31.50 and target of 30.98/30.68.
