FxWirePro: USD/TWD exhibits range bound movement, bias remains neutral
USD/TWD is currently trading around 31.88 marks. It made intraday high at 32.02 and low at 31.76 marks. Intraday bias remains neutral till the time pair holds key resistance at 32.08 marks. A daily close above 32.08 will…
It made intraday high at 32.02 and low at 31.76 marks.
Intraday bias remains neutral till the time pair holds key resistance at 32.08 marks.
A daily close above 32.08 will drag the parity up towards key resistances around 32.18, 32.25, 32.43 and 32.63 marks respectively.
On the other side, key support levels are seen at 31.77, 31.50, 31.38, 31.26, 31.18, 30.99, 30.85 and 30.39 marks respectively.
Taiwan stocks open flat at 9,149.35 points.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
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.
