FxWirePro: USD/TWD exhibits range bound movement, bias remains neutral
USD/TWD is currently trading around 30.33 marks. It made intraday high at 30.43 and low at 30.29 marks. Intraday bias remains neutral till the time pair holds key support at 30.25 marks. A daily close above 30.50 will dr…
It made intraday high at 30.43 and low at 30.29 marks.
Intraday bias remains neutral till the time pair holds key support at 30.25 marks.
A daily close above 30.50 will drag the parity up towards key resistances around 30.77, 30.90, 31.02, 31.15, 31.26, 31.78, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
On the other side, key support levels are seen at 30.25, 30.14, 30.00, 29.90, 29.84, 29.72, 29.61 and 29.28 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
Taiwan stocks open down 0.1 pct at 10,447.47 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.
