- USD/TWD is currently trading around 30.52 marks.
- It made intraday high at 30.55 and low at 30.45 marks.
- Intraday bias remains bullish till the time pair holds key support at 30.45 mark.
- A daily close above 30.45 will drag the parity up towards key resistances around 30.70, 30.90, 31.02, 31.17 and 31.42 marks respectively.
- On the other side, key support levels are seen at 30.45, 30.28, 30.15 and 30.05 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Taiwan's Sept manufacturing PMI falls to 50.8 (vs 53.0 in aug), slowest growth in more than two years.
- Taiwan stocks open up 0.1 pct at 11,014.19 points.
We prefer to take short position on USD/TWD only below 30.45, stop loss at 30.70 and target of 30.15.
