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FxWirePro: Taiwanese dollar trades marginally lower ahead of CPI, WPI data

  • sUSD/TWD is currently trading around 30.53 marks.
     
  • It made intraday high at 30.60 and low at 30.49 marks.
     
  • Intraday bias remains neutral till the time pair holds key support at 30.38 mark.
     
  • A daily close above 30.49 will drag the parity up towards key resistances around 30.70, 30.90, 31.17 and 30.42 marks respectively.
  • On the other side, key support levels are seen at 30.38, 30.22, 30.15 and 30.05 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • Taiwan stocks open down 0.3 pct at 10,690.91 points.
     
  • Taiwan will release CPI as well as WPI data at 0800 GMT.

We prefer to take long position on USD/TWD only above 30.64, stop loss at 30.50 and target of 30.90.

  • Market Data
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