- USD/TWD is currently trading around 30.13 marks.
- It made intraday high at 30.21 and low at 30.05 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 30.30 marks.
- A daily close above 30.16 will drag the parity up towards key resistances around 30.30, 30.40, 30.69, 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 30.05, 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.
- Taiwan stocks open up 0.4 pct at 9,934.13 points.
- Taiwan will release trade balance data at 0800 GMT.
We prefer to take short position in USD/TWD around 30.15, stop loss at 30.30 and target of 30.05/29.92.
