FxWirePro: Taiwanese dollar trades flat ahead of GDP data

• USD/TWD is currently trading around 29.97 marks.
   
• It made intraday high at 29.98 and low at 29.84 marks.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above 30.02 will drag the parity up towards key resistances around 30.15, 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 stocks will remain close in observance of the special holiday.
   
• Taiwan will release GDP data around 0800 GMT.

We prefer to take long position on USD/TWD only above 30.02, stop loss at 29.80 and target of 30.15/30.40.