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- USD/TWD is currently trading around 30.88 marks.
- It made intraday high at 30.90 and low at 30.77 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 30.90 mark.
- A daily close above 30.90 will drag the parity up towards key resistances around 31.02, 31.17 and 31.42 marks respectively.
- On the other side, key support levels are seen at 30.70, 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 0.5 pct at 10,665.29 points.
- Taiwan will release CPI as well WPI data at 0800 GMT.
We prefer to take long position on USD/TWD only above 30.90, stop loss at 30.70 and target of 31.42.
