FxWirePro: Taiwanese dollar trades marginally higher in early Asia ahead of CPI, WPI data

• USD/TWD is currently trading around 30.03 marks.
   
• It made intraday high at 30.07 and low at 29.99 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 29.94 mark.
   
• A daily close above 30.15 will drag the parity up towards key resistances around 30.22, 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 29.94, 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 0.96 pct lower at 11,838.59 points.
   
• Taiwan’s CPI, WPI as well as trade balance data around 0800 GMT.

We prefer to take long position on USD/TWD only above 30.15, stop loss at 29.90 and target of 30.40/30.70.