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- USD/TWD is currently trading around 30.40 marks.
- It made intraday high at 30.41 and low at 30.31 marks.
- Intraday bias remains bullish till the time pair holds key support at 30.15 mark.
- A daily close above 30.32 will drag the parity up towards key resistances around 30.42, 30.68 and 30.90 marks respectively.
- On the other side, key support levels are seen at 30.15, 30.05, 29.90, 29.78, 29.61, 29.50 and 29.43 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Taiwan will release industrial output data at 0800 GMT.
- Taiwan stocks open down 0.6 pct at 10,834.07 points.
We prefer to take long position on USD/TWD around 30.36, stop loss at 30.15 and target of 30.90.
