FxWirePro: USD/TWD exhibits range bound movement, faces strong resistance at 32.02

• USD/TWD is currently trading around 31.90 marks.
   
• It made intraday high at 31.97 and low at 31.86 marks.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above 31.90 will drag the parity up towards key resistances around 32.02, 32.20, 32.43 and 32.63 marks respectively.
   
• On the other side, key support levels are seen at 31.72, 31.56, 31.45, 31.38, 31.26, 31.18, 30.99, 30.85 and 30.39 marks respectively.
   
• Taiwan stocks open down 0.1 pct at 9,352.27 points.

We prefer to take long position in USD/TWD around 31.88, stop loss 31.72 and target of 32.02/32.20.