FxWirePro: Taiwanese dollar sharply depreciates against USD, consistent break above 31.51 targets 31.93
USD/TWD is currently trading around 31.42 marks. It made intraday high at 31.51 and low at 31.21 marks. Intraday bias remains bullish till the time pair holds key support at 31.21 marks. A sustain close below 31.21 mark …
It made intraday high at 31.51 and low at 31.21 marks.
Intraday bias remains bullish till the time pair holds key support at 31.21 marks.
A sustain close below 31.21 mark will test key supports at 30.99, 30.85 and 30.39 marks respectively.
Alternatively, a daily close above 31.51 will drag the parity up towards key resistances around 31.62, 31.93, 32.12, 32.25, 32.43 and 32.63 marks respectively.
We prefer to take long position in USD/TWD around 31.38, stop loss 31.21 and target 31.93.
