- USD/TWD is currently trading around 30.66 marks.
- It made intraday high at 30.69 and low at 30.57 marks.
- Intraday bias remains neutral till the time pair holds key support at 30.50 marks.
- A daily close above 30.59 will drag the parity up towards key resistances around 30.59, 30.72, 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 30.50, 30.36, 30.18, 30.06, 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. Current upside movement is short term trend correction only.
- Taiwan stocks open up 0.1 pct at 9,880.29 points.
- Taiwan will release trade balance data at 0800 GMT.
We prefer to take long position in USD/TWD around 30.62, stop loss 30.50 and target of 30.97.
