FxWirePro: USD/TWD exhibits range bound movement, faces strong support at 29.09 mark
USD/TWD is currently trading around 29.12 marks. It made intraday high at 29.15 and low at 29.06 marks. Intraday bias remains neutral till the time pair holds key support at 29.00 mark. A daily close above 29.20 will dra…
It made intraday high at 29.15 and low at 29.06 marks.
Intraday bias remains neutral till the time pair holds key support at 29.00 mark.
A daily close above 29.20 will drag the parity up towards key resistances around 29.32, 29.50, 29.65, 29.90, 30.02, 30.22 and 30.30 marks respectively.
On the other side, key support levels are seen at 29.09, 28.99, 28.89, 28.77 and 28.49 marks respectively.
Taiwan stocks open up 0.5 pct at 11,202.27 points.
We prefer to take short position in USD/TWD around 29.20, stop loss at 29.50 and target of 28.89/28.77.
