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

• USD/TWD is currently trading around 30.82 marks.
   
• It made intraday high at 30.83 and low at 30.79 marks.
   
• Intraday bias remains neutral till the time pair holds key resistance at 30.92 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 30.75, 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 0.5 pct at 10,759.96 points.
   
• Taiwan will release trade balance data around 0800 GMT.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.