- USD/TWD is currently trading around 30.14 marks.
- It made intraday high at 30.18 and low at 30.96 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 30.50 mark.
- A daily close above 30.09 will drag the parity up towards key resistances around 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 29.84, 29.70 and 29.46 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 0.80 pct higher at 12,034.41 points.
We prefer to take short position on USD/TWD around 30.10, stop loss at 30.40 and target of 29.46.
