FxWirePro: USD/CNY gains some ground but bearish outlook persists 
FxWirePro- Major European Indices 
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- USD/TWD is currently trading around 30.14 marks.
- It made intraday high at 30.18 and low at 30.01 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 30.22 mark.
- A daily close above 30.21 will drag the parity up towards key resistances around 30.40, 30.70, 30.87, 31.02, 31.22, 31.40, 31.71 and 31.90 marks respectively.
- On the other side, key support levels are seen at 30.02, 29.84, 29.70 and 29.46 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Taiwan’s stock was trading 0.15 pct lower at 12,003.96 points.
- Taiwan will release money supply data around 0800 GMT.
We prefer to take long position on USD/TWD only above 30.22, stop loss at 30.02 and target of 30.40/30.70.
