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FxWirePro: USD/TWD moves in rigid boundaries, Taiwan’s economic data in focus

  • USD/TWD is currently trading around 31.35 marks.
     
  • It made intraday high at 31.39 and low at 31.25 marks.
     
  • Intraday bias remains neutral for the moment.
     
  • A daily close above 31.40 will drag the parity up towards key resistances around 31.71, 31.90, 32.46 and 32.88 marks respectively.
  • On the other side, key support levels are seen at 31.18, 31.02, 30.89, 30.68 and 30.56 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • Taiwanese stock was trading around 0.33 pct higher at 10,524.28 points.
     
  • Taiwan will release export orders, balance of payment as well as current account data around 0800 GMT.

We prefer to take long position on USD/TWD only above 31.40, stop loss at 31.10 and target of 31.90.

By Aarti Panchal
  • Market Data
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