FxWirePro: USD/TWD consolidates around 29.25 mark, bias remains neutral
USD/TWD is currently trading around 29.27 marks. It made intraday high at 29.29 and low at 29.24 marks. Intraday bias remains neutral for the moment. A daily close above 29.32 will drag the parity up towards key resistan…
It made intraday high at 29.29 and low at 29.24 marks.
Intraday bias remains neutral for the moment.
A daily close above 29.32 will drag the parity up towards key resistances around 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 29.20, 29.02, 28.99, 28.89, 28.77 and 28.49 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 up 0.2 pct at 11,022.15 points.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
