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- USD/TWD is currently trading around 301.12 marks.
- It made intraday high at 31.15 and low at 31.02 marks.
- Intraday bias remains bullish till the time pair holds key support at 30.70 mark.
- A daily close above 31.10 will drag the parity up towards key resistances around 31.18, 31.28, 31.42 and 31.77 marks respectively.
- On the other side, key support levels are seen at 30.90, 30.70, 30.45, 30.28, 30.15 and 30.05 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Taiwan stocks extend losses to nearly 6 pct.
We prefer to take long position on USD/TWD around 31.06, stop loss at 30.70 and target of 31.42.
