FxWirePro: Taiwanese dollar trades marginally lower ahead of industrial production data
USD/TWD is currently trading around 30.60 marks. It made intraday high at 30.62 and low at 30.46 marks. Intraday bias remains slightly bullish till the time pair holds key support at 30.50 mark. A daily close above 30.70…
It made intraday high at 30.62 and low at 30.46 marks.
Intraday bias remains slightly bullish 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 30.48, 30.36 and 30.11 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 0.25 pct lower at 11,243.61 points.
Taiwan will release industrial production data around 0800 GMT.
We prefer to take long position on USD/TWD only above 30.70, stop loss 30.20 and target of 31.02/31.22 mark.
