FxWirePro: Taiwanese dollar appreciates in early hours of Asia after CPI data

• USD/TWD is currently trading around 30.95 marks.
   
• It made intraday high at 30.99 and low at 30.88 marks.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 31.00 marks.
   
• A daily close above 30.96 will drag the parity up towards key resistances around 31.07, 31.26, 31.78, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
   
• On the other side, key support levels are seen at 30.86, 30.74, 30.60, 30.48 and 30.39 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Taiwan stocks open up 0.1 pct at 9,690.26 points.
   
• Taiwan February CPI -0.04 pct y/y (poll +0.50 pct).
   
• Taiwan February WPI +2.19 pct y/y.
   
• Taiwan February core CPI +0.17 pct y/y.
   
• Taiwan February seasonally adjusted CPI +0.65 pct m/m.

We prefer to go short on USD/TWD around 30.96 with stop loss at 31.07 and target of 30.74.