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- USD/TWD is currently trading around 30.36 marks.
- It made intraday high at 30.42 and low at 30.31 marks.
- Intraday bias remains bearish till the time pair holds key support at 30.50 mark.
- A daily close above 30.70 will drag the parity up towards key resistances around 30.87, 31.02, 31.22, 31.40, 31.71, 31.90, 32.46 and 32.88 marks respectively.
- On the other side, key support levels are seen at 30.11, 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 TWII was trading 0.11 pct lower at 11,630.64 points.
- Taiwan will release CPI, WPI data around 0800 GMT.
We prefer to take short position on USD/TWD around 30.40, stop loss 30.70 and target of 29.84/29.70 mark.
