- USD/TWD is currently trading around 31.48 marks.
- It made intraday high at 31.53 and low at 31.43 marks.
- Intraday bias remains neutral till the time pair holds key support at 31.40 mark.
- A daily close above 31.71 will drag the parity up towards key resistances around 31.90, 32.46 and 32.88 marks respectively.
- On the other side, key support levels are seen at 31.40, 31.12, 30.89, 30.68 and 30.56 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- Taiwan stock was trading around 0.26 pct higher at 10,421.67 points.
- Taiwan will release trade balance data around 0800 GMT.
We prefer to take short position on USD/TWD only below 31.40, stop loss at 31.65 and target of 30.89.
