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- USD/TWD is currently trading around 29.17 marks.
- It made intraday high at 29.49 and low at 29.13 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 29.65 mark.
- A daily close above 29.36 will drag the parity up towards key resistances around 29.65, 29.90, 30.02, 30.22, 30.30, 30.41, 30.50, 30.65, 30.77, 30.90, 31.02 and 31.44 marks respectively.
- On the other side, key support levels are seen at 29.04, 28.77 and 28.49 marks respectively
- Taiwan stocks open up 0.2 pct at 11,169.79 points.
We prefer to take short position in USD/TWD around 29.25, stop loss at 29.65 and target of 29.04/28.77.
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