FxWirePro: Taiwanese dollar marginally higher in early hours of Asia, bias remains neutral
USD/TWD is currently trading around 32.34 marks. It made intraday high at 32.46 and low at 32.15 marks. Intraday bias remains neutral for the moment. A daily close above 32.46 will drag the parity up towards key resistan…
It made intraday high at 32.46 and low at 32.15 marks.
Intraday bias remains neutral for the moment.
A daily close above 32.46 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.
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.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
