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- USD/TWD is currently trading around 29.20 marks.
- It made intraday high at 29.26 and low at 29.20 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 29.20 mark.
- A daily close above 29.19 will drag the parity up towards key resistances around 29.32, 29.50, 29.65, 29.90, 30.02, 30.22 and 30.30 marks respectively.
- On the other side, key support levels are seen at 29.02, 28.99, 28.89, 28.77 and 28.49 marks respectively.
- Taiwan stocks open down 0.2 pct at 10,762.99 points.
- Taiwan will release trade balance as well as CPI data at 0800 GMT.
We prefer to take short position in USD/TWD only below 29.19, stop loss at 29.32 and target of 28.89.
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