FxWirePro: Taiwanese dollar trades marginally lower ahead of CPI, trade balance data
USD/TWD is currently trading around 29.20 marks. It made intraday high at 29.26 and low at 29.20 marks. Intraday bias remains slightly bullish till the time pair holds key support at 29.20 mark. A daily close above 29.19…
It made intraday high at 29.26 and low at 29.20 marks.
Intraday bias remains slightly bullish till the time pair holds key support at 29.20 mark.
A daily close above 29.19 will drag the parity up towards key resistances around 29.32, 29.50, 29.65, 29.90, 30.02, 30.22 and 30.30 marks respectively.
On the other side, key support levels are seen at 29.02, 28.99, 28.89, 28.77 and 28.49 marks respectively.
Taiwan stocks open down 0.2 pct at 10,762.99 points.
Taiwan will release trade balance as well as CPI data at 0800 GMT.
We prefer to take short position in USD/TWD only below 29.19, stop loss at 29.32 and target of 28.89.
