- USD/TWD is currently trading around 30.82 marks.
- It made intraday high at 30.90 and low at 30.78 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.03 mark.
- A daily close above 31.03 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 30.87, 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 0.68 pct higher at 11,009.55 points.
We prefer to take short position on USD/TWD around 30.85, stop loss 31.10 and target of 30.54/30.38.
