- USD/TWD is currently trading around 30.98 marks.
- It made intraday high at 31.04 and low at 30.96 marks.
- Intraday bias remains neutral till the time pair holds key support at 30.89 mark.
- A daily close above 31.05 will drag the parity up towards key resistances around 31.22, 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 up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- Taiwan stocks open down 0.2 pct at 10,878.01 points.
Positioning is inconclusive at this point. We remain sideways for the time being.
