FxWirePro: USD/TWD trades in narrow range, bias remains neutral

• USD/TWD is currently trading around 29.82 marks.
   
• It made intraday high at 29.89 and low at 29.81 marks.
   
• Intraday bias remains neutral till the time pair holds key resistance at 30.02 mark.
   
• A daily close above 29.81 will drag the parity up towards key resistances around 30.02, 30.22, 30.38 and 30.68 marks respectively.

• On the other side, key support levels are seen at 29.72, 29.61, 29.50, 29.43, 29.30, 29.15, 29.02, 28.99 and 28.89 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 0.1 pct at 11,140.02 points.

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.

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