FxWirePro: USD/TWD exhibits range bound movement, faces strong support at 30.14

• USD/TWD is currently trading around 30.33 marks.
   
• It made intraday high at 30.41 and low at 30.22 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 30.50 marks.
   
• A daily close above 30.39 will drag the parity up towards key resistances around 30.50, 30.69, 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 30.20, 30.06, 29.92, 29.85, 29.76 and 29.61 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

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.