FxWirePro: USD/TWD breaks key resistance at 31.50 mark, sustained close above requires for upside rally

• USD/TWD is currently trading around 31.50 marks.
   
• It made intraday high at 31.53 and low at 31.46 marks.
   
• Intraday bias remains bullish for the moment.
   
• A daily close above 31.50 will drag the parity up towards key resistances around 31.70, 31.90, 32.46 and 32.78 marks respectively.

• On the other side, key support levels are seen at 31.26, 30.98, 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 stocks open down 0.1 pct at 10,546.42 points.

We prefer to take long position on USD/TWD around 31.45, stop loss at 31.35 and target of 31.90.