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- USD/TWD is currently trading around 31.93 marks.
- It made intraday high at 32.02 and low at 31.80 marks.
- Intraday bias remains neutral till the time pair holds key support at 31.77 marks.
- A daily close above 31.99 will drag the parity up towards key resistances around 32.08, 32.18, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, key support levels are seen at 31.77, 31.62, 31.50, 31.38, 31.26, 31.18, 30.99, 30.85 and 30.39 marks respectively.
- Taiwan stocks open down 0.5 pct at 9,214.56 points.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to go long on USD/TWD around 31.90, stop loss at 31.77 and target of 32.08/32.15.
