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FxWirePro: USD/TWD moves directionless, faces immediate support at 30.70 mark

  • USD/TWD is currently trading around 30.81 marks.
     
  • It made intraday high at 30.85 and low at 30.79 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 30.70 mark.
     
  • A daily close above 30.92 will drag the parity up towards key resistances around 31.02, 31.18, 31.28, 31.42 and 31.77 marks respectively.
  • On the other side, key support levels are seen at 30.68, 30.56, 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 open up 0.2 pct at 10,529.30 points.
     
  • Taiwan will release export orders data around 0800 GMT.

We prefer to take short position on USD/TWD only below 30.70, stop loss at 30.90 and target of 30.45/30.28.

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