FxWirePro: USD/TWD exhibits range bound movement, stay neutral
USD/TWD is currently trading around 31.01 marks. It made intraday high at 31.09 and low at 30.90 marks. Intraday bias remains neutral till the time pair holds key support at 30.89 mark. A daily close above 31.05 will dra…
It made intraday high at 31.09 and low at 30.90 marks.
Intraday bias remains neutral till the time pair holds key support at 30.89 mark.
A daily close above 31.05 will drag the parity up towards key resistances around 31.22, 31.40, 31.50, 31.77, 31.90 and 32.46 marks respectively.
On the other side, key support levels are seen at 30.89, 30.68, 30.56, 30.45, 30.28, 30.15 and 30.05 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 up 0.1 pct at 10,786.66 points.
Positioning is inconclusive at this point. We remain sideways for the time being.
