- USD/TWD is currently trading around 31.30 mark.
- It made intraday high at 31.40 and low at 31.25 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.45 marks.
- A sustain close below 31.25 mark will test key supports at 31.13, 30.99 and 30.70 marks respectively.
- Alternatively, reversal from key support will drag the parity up towards key resistances around 31.45, 31.55, 31.72, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- Taiwan preliminary Q4 GDP +2.58 pct y/y (poll +3.1 pct).
- Taiwan preliminary 2016 GDP +1.40 pct.
- Taiwan preliminary Q4 GDP +1.89 pct q/q seasonally adjusted annualised rate (vs +3.91 pct in Q3).
We prefer to take short position in USD/TWD only below 31.25, stop loss 31.45 and target 31.13/30.99/30.85.
