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- USD/TWD is currently trading around 30.96 marks.
- It made intraday high at 31.00 and low at 30.79 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 31.02 mark.
- A daily close above 31.02 will drag the parity up towards key resistances around 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 30.76, 30.54, 30.38 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 stock was trading 0.48 pct higher at 10,927.22 points.
We prefer to take long position on USD/TWD only above 31.02, stop loss at 30.70 and target of 31.22/31.40.
