FxWirePro: Taiwanese dollar marginally higher against U.S. dollar after Taiwan’s CPI, core CPI data

• USD/TWD is currently trading around 31.02 mark.
   
• It made intraday high at 31.09 and low at 30.99 marks.
   
• Intraday bias remains neutral for the moment.
   
• A sustained close below 31.03 mark will test key supports at 30.83, 30.77, 30.68 and 30.48 marks respectively.
   
• Alternatively, reversal from key support will drag the parity up towards key resistances around 31.19, 31.25, 31.35, 31.44, 31.58, 31.72, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
   
• Taiwan’s January CPI +2.25 pct y/y (poll +2.07 pct).
   
• Taiwan’s January WPI +2.72 pct y/y.
   
• Taiwan’s January core CPI +1.65 pct y/y.
   
• Taiwan’s January seasonally adjusted CPI -0.2 pct mth/mth.
   
• Taiwan stocks open down 0.1 pct at 9,540.77 points.

We prefer to take long position in USD/TWD around 31.05, stop loss 30.83 and target of 31.19/31.35.