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

• USD/TWD is currently trading around 31.09 marks.
   
• It made intraday high at 31.11 and low at 31.04 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 30.89 mark.
   
• A daily close above 31.11 will drag the parity up towards key resistances around 31.22, 31.40, 31.50, 31.77, 31.90 and 32.46 marks respectively.

• On the other side, key support levels are seen at 30.89, 30.68, 30.56, 30.45, 30.28, 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 will release CPI as well as WPI data around 0800 GMT.
   
• Taiwan stock was trading around 0.08 pct lower at 10,767.75 points.

We prefer to take long position on USD/TWD around 31.05 mark, stop loss at 30.85 and target of 31.40.