FxWirePro: USD/TWD fails to find support above 30.50 mark, good to sell on rallies
USD/TWD is currently trading around 30.31 marks. It made intraday high at 30.43 and low at 30.30 marks. Intraday bias remains slightly bearish for the moment. A daily close above 30.42 will drag the parity up towards key…
It made intraday high at 30.43 and low at 30.30 marks.
Intraday bias remains slightly bearish for the moment.
A daily close above 30.42 will drag the parity up towards key resistances around 30.70, 30.87, 31.02, 31.22, 31.40, 31.71 and 31.90 marks respectively.
On the other side, key support levels are seen at 30.22, 30.02, 29.87, 29.70 and 29.46 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Taiwanese stock was trading 0.52 pct lower at 11,480.55 points.
We prefer to take short position on USD/TWD around 30.35, stop loss at 30.50 and target of 30.22/30.02.
