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- USD/TWD is currently trading around 31.52 marks.
- It made intraday high at 31.56 and low at 31.51 marks.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 31.57 marks.
- A daily close above 31.57 will drag the parity up towards key resistances around 31.77, 31.90 and 32.46 marks respectively.
- On the other side, key support levels are seen at 31.40, 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 down 0.3 pct at 10,277.35 points.
We prefer to take long position on USD/TWD only above 31.57, stop loss at 31.40 and target of 31.90.
