- USD/TWD is currently trading around 30.02 marks.
- It made intraday high at 30.06 and low at 29.88 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 30.23 marks.
- A daily close above 30.03 will drag the parity up towards key resistances around 30.23, 30.40, 30.69, 30.90, 31.02, 31.15, 31.26, 31.78, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, key support levels are seen at 30.01, 29.92, 29.85, 29.76 and 29.61 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 in USD/TWD around 30.05, stop loss at 30.23 and target of 29.85/29.61.
