FxWirePro: Taiwanese dollar strengthens against USD, upside limited
USD/TWD is currently trading around 32.01 mark, It made intraday high at 32.09 and low at 31.97 marks. Intraday bias remains bearish till the time pair holds key resistance at 32.09 marks. A sustain close below 31.87 mar…
It made intraday high at 32.09 and low at 31.97 marks.
Intraday bias remains bearish till the time pair holds key resistance at 32.09 marks.
A sustain close below 31.87 mark will tests key supports at 31.72, 31.58, 31.40 and 31.17 marks respectively.
Alternatively, reversal from key support will drag the parity higher back above 32.09 marks to test key resistances at 32.17, 32.25, 32.43 and 32.63 marks respectively.
In addition, Taiwan stocks close up 0.5 pct at 9,056.56 points.
We prefer to take short position in USD/TWD around 32.02, stop loss 32.13 and target 31.87/31.72/31.58 marks.
