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- USD/TWD is currently trading around 31.27 marks.
- It made intraday high at 31.32 and low at 31.24 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 31.20 mark.
- A daily close above 31.32 will drag the parity up towards key resistances around 31.50, 31.70, 31.90, 32.46 and 32.88 marks respectively.
- On the other side, key support levels are seen at 31.12, 30.89, 30.68 and 30.56 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Taiwan stock was trading flat around 10,494.55 points.
We prefer to take long position on USD/TWD around 31.25, stop loss at 31.15 and target of 31.50/31.70/31.90.
