FxWirePro: Taiwanese dollar trades marginally against U.S. dollar, sustained close below 30.22 rewuires for downside rally
USD/TWD is currently trading around 30.23 marks. It made intraday high at 30.30 and low at 30.20 marks. Intraday bias remains bearish till the time pair holds key resistance at 30.42 marks. A daily close above 30.22 will…
It made intraday high at 30.30 and low at 30.20 marks.
Intraday bias remains bearish till the time pair holds key resistance at 30.42 marks.
A daily close above 30.22 will drag the parity up towards key resistances around 30.38, 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 30.22, 30.14, 30.00, 29.90, 29.84, 29.72, 29.61 and 29.28 marks respectively.
Taiwan stocks open down 0.3 pct at 10,396.76 points.
We prefer to take short position in USD/TWD around 30.25, stop loss 30.42 and target of 29.90.
