- USD/TWD is currently trading around 30.54 marks.
- It made intraday high at 30.56 and low at 30.44 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 30.50 mark.
- A daily close above 30.50 will drag the parity up towards key resistances around 30.87, 31.02, 31.22, 31.40, 31.71, 31.90, 32.46 and 32.88 marks respectively.
- On the other side, key support levels are seen at 30.47, 30.33, 30.11, 29.84, 29.70 and 29.46 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Taiwan’s stock was trading 0.60 pct higher at 11,520.79 points.
We prefer to take long position on USD/TWD around 30.50, stop loss at 30.40 and target of 30.87/31.02.
By Aarti Panchal