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

  • USD/TWD is currently trading around 30.94 marks.
     
  • It made intraday high at 31.02 and low at 30.87 marks.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 31.02 mark.
     
  • A daily close above 31.02 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 0.20 pct higher at 10,916.53 points.
     
  • Taiwan will release export orders data around 0800 GMT.

We prefer to take short position on USD/TWD only below 30.87, stop loss at 31.10 and target of 30.54.

  • Market Data
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