FxWirePro: USD/TWD consolidates around 30.50 mark, stay bullish

• USD/TWD is currently trading around 30.53 marks.
   
• It made intraday high at 30.58 and low at 30.46 marks.
   
• Intraday bias remains neutral till the time pair holds key resistance at 30.62 marks.
   
• A daily close above 30.62 will drag the parity up towards key resistances around 30.77, 30.90, 31.02, 31.15, 31.26, 31.78, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
   
• On the other side, key support levels are seen at 30.42, 30.35, 30.24, 30.14, 30.00, 29.90, 29.84, 29.72, 29.61 and 29.28 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
   
• Taiwan stocks open up 0.2 pct at 10,313.08 points.

We prefer to take long position in USD/TWD only above 30.62, stop loss at 30.42 and target of 30.90.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest