FxWirePro: Taiwanese dollar trades marginally lower ahead of trade balance data

• USD/TWD is currently trading around 30.05 marks.
   
• It made intraday high at 30.14 and low at 29.90 marks.
   
• Intraday bias remains slightly bullish for the moment.
   
• A daily close above 30.02 will drag the parity up towards key resistances around 30.28, 30.50, 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 29.70, 29.46, 29.28, 29.11 and 29.00 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Taiwanese stock was trading around 2.07 pct lower at 11,087.67 points.
   
• Taiwan will release trade balance data around 0800 GMT.

We prefer to take long position on USD/TWD only above 30.17, stop loss at 29.87 and target of 30.28/30.50.