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- USD/TWD is currently trading around 29.50 marks.
- It made intraday high at 29.59 and low at 29.48 marks.
- Intraday bias remains bearish till the time pair holds resistance at 29.70 mark.
- A daily close above 29.70 will drag the parity up towards key resistances around 29.90, 30.02, 30.22, 30.30, 30.41, 30.50, 30.65, 30.77, 30.90, 31.02 and 31.44 marks respectively.
- On the other side, key support levels are seen at 29.40, 29.28, 29.04 and 28.77 marks respectively.
- Taiwan stocks open up 0.1 pct at 10,856.92 points and close up 0.3 pct at 10,879.80 points.
We prefer to take short position in USD/TWD around 29.55, stop loss at 29.72 and target of 29.28.
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