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- USD/TWD is currently trading around 31.43 marks.
- It made intraday high at 31.49 and low at 31.35 marks.
- Intraday bias remains bullish till the time pair holds key support at 31.35 marks.
- A daily close above 31.34 will drag the parity up towards key resistances around 31.50, 31.70, 31.90, 32.46 and 32.78 marks respectively.
- On the other side, key support levels are seen at 31.35, 31.20, 30.98, 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.
- Taiwan stocks open flat at 10,499.51 points.
We prefer to take short position on USD/TWD around 31.50, stop loss at 31.70 and target of 31.20.
