FxWirePro: Taiwanese dollar strengthens against U.S. dollar, stay bearish
USD/TWD is currently trading around 30.23 marks. It made intraday high at 30.29 and low at 30.19 marks. Intraday bias remains bearish till the time pair holds key resistance 30.32 mark. A daily close above 30.30 will dra…
It made intraday high at 30.29 and low at 30.19 marks.
Intraday bias remains bearish till the time pair holds key resistance 30.32 mark.
A daily close above 30.30 will drag the parity up towards key resistances around 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 30.19, 30.10, 30.01, 29.90, 29.84, 29.72, 29.61 and 29.28 marks respectively.
Taiwan stocks open up 0.1 pct at 10,414.66 points.
Taiwan will release money supply data at 0800 GMT.
We prefer to take short position in USD/TWD only below 30.19 mark, stop loss at 30.50 and target of 30.01/29.84.
