FxWirePro: Taiwanese dollar erases previous gain against US dollar, buy on dips
USD/TWD is currently trading around 31.96 mark, It made intraday high at 32.02 and low at 31.86 marks. Intraday bias remains bullish till the time pair holds key support at 31.87 marks. A sustain close below 31.87 mark w…
It made intraday high at 32.02 and low at 31.86 marks.
Intraday bias remains bullish till the time pair holds key support at 31.87 marks.
A sustain close below 31.87 mark will tests key supports at 31.72, 31.58, 31.40 and 31.17 marks respectively.
Alternatively, reversal from key support will drag the parity higher back above 32.06 marks to test key resistances at 32.17, 32.25, 32.43 and 32.63 marks respectively.
In addition, Taiwan stocks open flat at 8,952.61 points and currently trading around 0.55% higher at 8,998.82 points.
We prefer to take long position in USD/TWD around 31.90, stop loss 31.85 and target 32.06/ 32.25 marks.
