- USD/TWD is currently trading around 30.53 marks.
- It made intraday high at 30.57 and low at 30.36 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 30.70 mark.
- A daily close above 30.70 will drag the parity up towards key resistances around 30.87, 31.02, 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 30.48, 30.36 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 TWII was trading 0.34 pct higher at 11,222.12 points.
- Taiwan will release unemployment rate data around 0800 GMT.
We prefer to take long position on USD/TWD only above 30.70, stop loss 30.20 and target of 31.02/31.22 mark.
By Aarti Panchal