- USD/TWD is currently trading around 31.94 marks.
- It made intraday high at 32.02 and low at 31.88 marks.
- Intraday bias remains neutral for the moment.
- A daily close above 32.00 will drag the parity up towards key resistances around 32.08, 32.15, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, key support levels are seen at 31.88, 31.77, 31.62, 31.50, 31.38, 31.26, 31.18, 30.99, 30.85 and 30.39 marks respectively.
- Taiwan stocks open up 0.3 pct at 9,279.00 points.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Taiwan will release trade balance data at 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.