Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/TWD breaks key support at 31.50 mark, upside limited

  • USD/TWD is currently trading around 31.53 marks.
     
  • It made intraday high at 31.65 and low at 31.48 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 31.74 marks.
     
  • A daily close above 31.74 will drag the parity up towards key resistances around 31.83, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
     
  • On the other side, key support levels are seen at 31.48, 31.38, 31.26, 31.18, 30.99, 30.85 and 30.39 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
     
  • Taiwan stocks open down 0.3 pct at 9,283.20 points.

We prefer to go short on USD/TWD around 31.58, stop loss 31.74 and target of 31.38.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.