FxWirePro: Taiwanese dollar marginally higher in early hours of Asia, upside limited

• USD/TWD is currently trading around 30.22 marks.
   
• It made intraday high at 30.26 and low at 30.11 marks.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above 30.24 will drag the parity up towards key resistances around 30.32, 30.40, 30.69, 30.90, 31.02, 31.15, 31.26, 31.78, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
   
• On the other side, key support levels are seen at 30.11, 30.05, 29.92, 29.85, 29.76 and 29.61 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Taiwan stocks open flat at 9,968.51 points.

We prefer to take short position in USD/TWD around 30.22, stop loss at 30.32 and target of 30.11/30.05.