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 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.

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