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- USD/TWD is currently trading around 31.54 marks.
- It made intraday high at 31.70 and low at 31.52 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.88 marks.
- A daily close above 31.88 will drag the parity up towards key resistances around 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, current downside movement will test key supports at 31.21, 30.99, 30.85 and 30.39 marks respectively.
We prefer to go short on USD/TWD around 31.58 with stop loss at 31.88 and target of 31.21/30.99.
