FxWirePro: Taiwanese dollar rises gradually against U.S. dollar, faces key support at 31.02 mark

• USD/TWD is currently trading around 31.17 marks.
   
• It made intraday high at 31.23 and low at 31.08 marks.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 31.40 mark.
   
• A daily close above 31.13 will drag the parity up towards key resistances around 31.40, 31.71, 31.90, 32.46 and 32.88 marks respectively.

• On the other side, key support levels are seen at 31.02, 30.89, 30.68 and 30.56 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take short position on USD/TWD around 31.18, stop loss at 31.40 and target of 31.02/30.89/30.68.