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- USD/TWD is currently trading around 31.23 marks.
- It made intraday high at 31.28 and low at 31.19 marks.
- Intraday bias remains neutral till the time pair holds key support at 31.17 mark.
- A daily close above 31.42 will drag the parity up towards key resistances around 31.71, 31.90, 32.46 and 32.88 marks respectively.
- On the other side, key support levels are seen at 31.17, 31.02, 30.89, 30.68 and 30.56 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Taiwanese stock was trading around 0.20 pct higher at 10,780.55 points.
- Taiwan will release CPI as well as WPI data around 0800 GMT.
We prefer to take short position on USD/TWD only below 31.17, stop loss at 31.42 and target of 30.89/30.68.
