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FxWirePro: USD/TWD falls below 31.00 mark, sustained close below targets 30.82

  • USD/TWD is currently trading around 30.99 mark.
     
  • It made intraday high at 31.19 and low at 30.98 marks.
     
  • Intraday bias remains bearish for the moment.
     
  • A sustained close below 31.00 mark will test key supports at 30.82, 30.77, 30.68 and 30.48 marks respectively.
     
  • Alternatively, reversal from key support will drag the parity up towards key resistances around 31.19, 31.25, 31.35, 31.44, 31.58, 31.72, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
     
  • Taiwan stocks open up 0.1 pct at 9,555.52 points.

We prefer to take short position in USD/TWD around 31.00, stop loss 31.19 and target of 30.82/30.77.

  • Market Data
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