FxWirePro: Taiwanese dollar strengthens in early Asia, sustained close below 30.00 requires for downside rally

• USD/TWD is currently trading around 30.05 marks.
   
• It made intraday high at 30.08 and low at 29.96 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 30.18 mark.
   
• A daily close above 30.11 will drag the parity up towards key resistances around 30.18, 30.32, 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 30.01, 29.90, 29.72, 29.61 and 29.28 marks respectively.
   
• Taiwan stocks open up 0.1 pct at 10,590.80 points.

We prefer to take short position in USD/TWD only below 30.00 mark, stop loss at 30.18 and target of 29.90/29.72.

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