FxWirePro: USD/TWD exhibits range bound movement, Taiwan’s export orders data in focus

• USD/TWD is currently trading around 29.94 marks.
   
• It made intraday high at 29.96 and low at 29.93 marks.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above 30.02 will drag the parity up towards key resistances around 30.15, 30.40, 30.70, 30.87, 31.02, 31.22, 31.40, 31.71 and 31.90 marks respectively.

• On the other side, key support levels are seen at 29.84, 29.70 and 29.46 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Taiwan’s stock was trading 0.24 pct higher at 12,119.68 points.
   
• Taiwan will release export orders data around 0800 GMT.
   

We prefer to take long position on USD/TWD only above 30.02, stop loss at 29.80 and target of 30.15/30.40.