- USD/TWD is currently trading around 30.60 marks.
- It made intraday high at 30.70 and low at 30.48 marks.
- Intraday bias remains bullish till the time pair holds key support at 30.45 marks.
- A daily close above 30.48 will drag the parity up towards key resistances around 30.72, 30.90, 31.02, 31.15, 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 30.45, 30.35, 30.24 and 30.05 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- Taiwan stocks open up 0.1 pct at 9,845.59 points.
We prefer to go long on USD/TWD around 30.55 with stop loss at 30.45 and target of 30.90.
