- USD/TWD is currently trading around 32.32 marks.
- It made intraday high at 32.44 and low at 32.22 marks.
- Intraday bias remains slightly bearish for the moment.
- A daily close above 32.44 will drag the parity up towards key resistances around 32.63, 32.78 and 32.90 marks respectively.
- On the other side, key support levels are seen at 32.22, 32.13, 32.02, 31.91, 31.72, 31.56, 31.45, 31.38, 31.26, 31.18, 30.99, 30.85 and 30.39 marks respectively.
- Taiwan stocks open down 0.3 pct at 9,172.39 points.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take short position in USD/TWD around 32.30, stop loss 32.47 and target of 32.02.
