- USD/TWD is currently trading around 30.94 marks.
- It made intraday high at 31.02 and low at 30.94 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 31.00 mark.
- A daily close above 31.00 will drag the parity up towards key resistances around 31.17, 31.28, 31.42 and 31.77 marks respectively.
- On the other side, key support levels are seen at 30.90, 30.70, 30.45, 30.28, 30.15 and 30.05 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Fitch affirms Taiwan at 'AA-'; outlook stable.
We prefer to take long position on USD/TWD only above 31.05, stop loss at 30.70 and target of 31.42.
