- USD/TWD is currently trading around 31.71 marks.
- It made intraday high at 31.81 and low at 31.65 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.87 marks.
- A sustained close below 31.62 marks will test key supports at 31.21, 30.99, 30.85 and 30.39 marks respectively.
- Alternatively, a daily close above 31.87 will drag the parity up towards key resistances around 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- In addition, Taiwan stocks open up 0.1 pct at 8,987.07 points.
We prefer to take short position in USD/TWD around 31.75, stop loss 31.87 and target 31.21.