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- USD/TWD is currently trading around 30.69 marks.
- It made intraday high at 30.70 and low at 30.62 marks.
- Intraday bias remains bullish till the time pair holds key support at 30.62 mark.
- A daily close above 30.62 will drag the parity up towards key resistances around 30.70, 30.90, 31.02, 31.17 and 31.42 marks respectively.
- On the other side, key support levels are seen at 30.62, 30.47, 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.
- Taiwanese banks will be closed in observance of Mid-Autumn Festival.
We prefer to take short position on USD/TWD only below 30.62, stop loss at 30.90 and target of 30.40.
