- USD/TWD is currently trading around 30.24 marks.
- It made intraday high at 30.27 and low at 30.18 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 30.30 mark.
- A daily close above 30.30 will drag the parity up towards key resistances around 30.50, 30.65, 30.77, 30.90, 31.02, 31.15, 31.26 and 31.44 marks respectively.
- On the other side, key support levels are seen at 30.18, 30.10, 30.03, 29.90, 29.72, 29.61 and 29.28 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 0.6 pct at 10,322.44 points.
We prefer to take long position in USD/TWD only above 30.30, stop loss at 30.10 and target of 30.50 mark.
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