FxWirePro: USD/TWD enjoys range bound market movement, bias remains neutral
USD/TWD is currently trading around 32.02 mark, It made intraday high at 32.09 and low at 31.93 marks. Intraday bias remains neutral till the time pair holds key resistance at 32.09 marks. A sustain close below 31.87 mar…
It made intraday high at 32.09 and low at 31.93 marks.
Intraday bias remains neutral till the time pair holds key resistance at 32.09 marks.
A sustain close below 31.87 mark will tests key supports at 31.72, 31.58, 31.40 and 31.17 marks respectively.
Alternatively, reversal from key support will drag the parity higher back above 32.09 marks to test key resistances at 32.17, 32.25, 32.43 and 32.63 marks respectively.
In addition, Taiwan stocks close down 0.5 pct at 9,013.14 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.
