FxWirePro: USD/TWD fails to break key resistance at 31.87, good to sell on rallies
USD/TWD is currently trading around 31.71 marks. It made intraday high at 31.81 and low at 31.65 marks. Intraday bias remains bearish till the time pair holds key resistance at 31.87 marks. A sustained close below 31.62 …
It made intraday high at 31.81 and low at 31.65 marks.
Intraday bias remains bearish till the time pair holds key resistance at 31.87 marks.
A sustained close below 31.62 marks will test key supports at 31.21, 30.99, 30.85 and 30.39 marks respectively.
Alternatively, a daily close above 31.87 will drag the parity up towards key resistances around 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
In addition, Taiwan stocks open up 0.1 pct at 8,987.07 points.
We prefer to take short position in USD/TWD around 31.75, stop loss 31.87 and target 31.21.
