FxWirePro: USD/TWD fails to break key support at 30.75 mark, short term trend reversal likely
USD/TWD is currently trading around 30.81 marks. It made intraday high at 30.86 and low at 30.75 marks. Intraday bias remains bullish till the time pair holds key support at 30.75 mark. A daily close above 30.75 will dra…
It made intraday high at 30.86 and low at 30.75 marks.
Intraday bias remains bullish till the time pair holds key support at 30.75 mark.
A daily close above 30.75 will drag the parity up towards key resistances around 31.02, 31.22, 31.40, 31.71, 31.90, 32.46 and 32.88 marks respectively.
On the other side, key support levels are seen at 30.75, 30.54, 30.38 and 30.11 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Taiwan’s stock was trading 0.76 pct lower at 10,933.98 points.
We prefer to take short position on USD/TWD only below 30.75, stop loss 31.02 and target of 30.54/30.38.
