FxWirePro: USD/TWD exhibits range bound market movement, bias remains neutral
USD/TWD is currently trading around 31.78 marks. It made intraday high at 31.84 and low at 31.67 marks. Intraday bias remains neutral till the time pair holds key resistance at 31.87 marks. A sustained close below 31.62 …
It made intraday high at 31.84 and low at 31.67 marks.
Intraday bias remains neutral till the time pair holds key resistance at 31.87 marks.
A sustained close below 31.62 marks will test key supports at 31.21, 30.99, 30.85 and 30.39 marks respectively.
Alternatively, a daily close above 31.87 will drag the parity up towards key resistances around 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
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.
