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- USD/TWD is currently trading around 30.83 marks.
- It made intraday high at 30.86 and low at 30.83 marks.
- Intraday bias remains neutral till the time pair moves in stiff boundaries from 30.50 to 30.90 mark.
- A daily close above 30.90 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 close up 0.5 pct at 10,357.15 points.
We prefer to take long position on USD/TWD only above 30.90, stop loss at 30.70 and target of 31.18.
