FxWirePro: Taiwanese dollar appreciates against USD on robust CPI data release
USD/TWD is currently trading around 31.63 marks. It made intraday high at 31.69 and low at 31.62 marks. Intraday bias remains bearish till the time pair holds key resistance at 31.93 marks. A sustain close below 31.60 ma…
It made intraday high at 31.69 and low at 31.62 marks.
Intraday bias remains bearish till the time pair holds key resistance at 31.93 marks.
A sustain close below 31.60 mark will test key supports at 31.49, 31.17, 30.85 and 30.39 marks respectively.
Alternatively, reversal from key support will drag the parity up towards 31.93 mark to test key resistances at 32.12, 32.25, 32.43 and 32.63 marks respectively.
Taiwan July CPI +1.23 pct y/y (poll +1.07 pct).
Taiwan July core CPI +0.79 pct y/y.
Taiwan July seasonally adjusted CPI +0.2 pct m/m.
We prefer to take short position in USD/TWD only below 31.60, stop loss 31.93 and target 31.50/31.17.
