FxWirePro: Taiwanese dollar rises gradually against U.S. dollar, stay bearish only below 29.92
USD/TWD is currently trading around 30.01 marks. It made intraday high at 30.05 and low at 29.95 marks. Intraday bias remains neutral till the time pair holds key support at 30.00 mark. A daily close above 30.00 will dra…
It made intraday high at 30.05 and low at 29.95 marks.
Intraday bias remains neutral till the time pair holds key support at 30.00 mark.
A daily close above 30.00 will drag the parity up towards key resistances around 30.07, 30.22, 30.32, 30.50, 30.65, 30.77, 30.90, 31.02, 31.15, 31.26 and 31.44 marks respectively.
On the other side, key support levels are seen at 29.92, 29.72, 29.61 and 29.28 marks respectively.
Taiwan stocks open up 0.4 pct at 10,610.33 points.
We prefer to take short position in USD/TWD only below 29.92 mark, stop loss at 30.11 and target of 29.72/29.50.
