- USD/TWD is currently trading around 32.40 marks.
- It made intraday high at 32.42 and low at 32.25 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.
- Taiwan stocks open flat at 9,252.56 points.
- Taiwan December PMI rises to 56.2 vs 54.7 in November, sharpest improvement since April 2011.
We prefer to take short position in USD/TWD around 32.40, stop loss 32.58 and target of 32.22/32.02.
