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- USD/TWD is currently trading around 30.60 marks.
- It made intraday high at 30.66 and low at 30.57 marks.
- Intraday bias remains bullish till the time pair holds key support at 30.40 mark.
- A daily close above 30.57 will drag the parity up towards key resistances around 30.75, 30.90, 31.17 and 31.42 marks respectively.
- On the other side, key support levels are seen at 30.40, 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 July 2018 nikkei markit manufacturing PMI decrease to 53.1 vs previous 54.5.
- Taiwan stocks open flat at 11,062.36 points.
We prefer to take long position on USD/TWD only above 30.70, stop loss at 30.40 and target of 30.90/31.17.
