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- USD/TWD is currently trading around 30.66 marks.
- It made intraday high at 30.68 and low at 30.50 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 30.50 mark.
- A daily close above 30.60 will drag the parity up towards key resistances around 31.02, 31.22, 31.40, 31.71, 31.90, 32.46 and 32.88 marks respectively.
- On the other side, key support levels are seen at 30.54, 30.38 and 30.11 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position on USD/TWD around 30.70, stop loss 31.02 and target of 30.54/30.38.
