FxWirePro: Taiwanese dollar rises remarkably in early Asia, hits highest level since July 2019

• USD/TWD is currently trading around 30.93 marks.
   
• It made intraday high at 31.16 and low at 30.94 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 31.20 mark.
   
• A daily close above 31.12 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 30.89, 30.68 and 30.56 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position on USD/TWD around 31.00, stop loss at 31.20 and target of 30.68/30.56.