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FxWirePro: USD/TWD exhibits range bound movement, stay bearish only below 30.47 mark

  • USD/TWD is currently trading around 30.58 marks.
     
  • It made intraday high at 30.63 and low at 30.47 marks.
     
  • Intraday bias remains neutral till the time pair holds key support at 30.55 mark.
     
  • A daily close above 30.70 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 30.48, 30.36 and 30.11 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 TWII was trading 0.17 pct lower at 11,170.99 points.

We prefer to take short position on USD/TWD only below 30.47, stop loss 30.70 and target of 30.11.

By Aarti Panchal
  • Market Data
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