- USD/TWD is currently trading around 30.30 marks.
- It made intraday high at 30.35 and low at 30.28 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 30.41 marks.
- A daily close above 30.32 will drag the parity up towards key resistances around 30.41, 30.57, 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 30.18, 30.06, 29.92, 29.85, 29.76 and 29.61 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position in USD/TWD around 30.30, stop loss 30.41 and target of 30.18/30.06.
