FxWirePro: Taiwanese dollar advances to 30.64 mark against U.S. dollar, highest level since May 2015
USD/TWD is currently trading around 30.70 mark. It made intraday high at 30.86 and low at 30.64 marks. Intraday bias remains bearish till the time pair holds key resistance at 30.99 marks. A sustained close below 30.73 m…
It made intraday high at 30.86 and low at 30.64 marks.
Intraday bias remains bearish till the time pair holds key resistance at 30.99 marks.
A sustained close below 30.73 mark will test key supports at 30.48, 30.32 and 30.18 marks respectively.
Alternatively, reversal from key support will drag the parity up towards key resistances around 30.99, 31.10, 31.25, 31.35, 31.44, 31.58, 31.72, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
Taiwan stocks open up 0.1 pct at 9,724.13 points.
We prefer to take short position in USD/TWD around 30.75, stop loss at 30.99 and target of 30.48.
