Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Taiwanese dollar marginally lower despite higher than expected manufacturing PMI data

  • 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.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.