FxWirePro: Taiwanese dollar marginally higher against U.S dollar in early hours of Asia, faces strong support at 31.70 mark

• USD/TWD is currently trading around 31.75 marks.
   
• It made intraday high at 31.85 and low at 31.74 marks.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above 31.80 will drag the parity up towards key resistances around 32.02, 32.20, 32.43 and 32.63 marks respectively.
   
• On the other side, key support levels are seen at 31.72, 31.56, 31.45, 31.38, 31.26, 31.18, 30.99, 30.85 and 30.39 marks respectively.
   
• Taiwan stocks open up 0.1 pct at 9,395.60 points.

We prefer to take short position in USD/TWD only below 31.72, stop loss 31.82 and target of 31.56/31.45.