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- USD/TWD is currently trading around 31.75 marks.
- It made intraday high at 31.82 and low at 31.67 marks.
- Intraday bias remains bullish till the time pair holds key support at 31.50 marks.
- A daily close above 31.82 will drag the parity up towards key resistances around 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, key support levels are seen at 31.67, 31.50, 31.27, 31.13, 31.09, 30.99, 30.85 and 30.39 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.
We prefer to go long on USD/TWD only above 31.82 with stop loss at 31.67 and target of 32.12/32.25.
