FxWirePro: Taiwanese dollar strengthens extremely against U.S. dollar, hits highest level since June 2018

• USD/TWD is currently trading around 29.75 marks.
   
• It made intraday high at 29.87 and low at 29.73 marks.
   
• Intraday bias remains bearish for the moment.
   
• A daily close above 30.02 will drag the parity up towards key resistances around 30.22, 30.40, 30.70, 30.87, 31.02, 31.22, 31.40, 31.71 and 31.90 marks respectively.

• On the other side, key support levels are seen at 29.70, 29.46, 29.28, 29.11 and 29.00 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Taiwan’s stock was trading around 2.00 pct higher at 10,992.55 points.

We prefer to take short position in USD/TWD around 29.82, stop loss at 30.02 and target of 29.46/29.28.