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FxWirePro: USD/TWD moves in rigid boundaries, stay neutral

  • USD/TWD is currently trading around 31.01 marks.
     
  • It made intraday high at 31.07 and low at 30.90 marks.
     
  • Intraday bias remains neutral for the moment.
     
  • A daily close above 31.17 will drag the parity up towards key resistances around 31.40, 31.50, 31.77, 31.90 and 32.46 marks respectively.
  • On the other side, key support levels are seen at 30.89, 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 down and confirms the bearish trend in a daily chart.
     
  • Taiwan stock was trading around 0.90 pct higher at 10,896.44 points.

Positioning is inconclusive at this point. We remain sideways for the time being.

By Aarti Panchal
  • Market Data
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