USD/TWD is currently trading around 31.99 marks. It made intraday high at 32.04 and low at 31.93 marks. Intraday bias remains neutral till the time pair holds key support at 31.86 marks. A daily close above 32.00 will dr…
It made intraday high at 32.04 and low at 31.93 marks.
Intraday bias remains neutral till the time pair holds key support at 31.86 marks.
A daily close above 32.00 will drag the parity up towards key resistances around 32.08, 32.18, 32.25, 32.43 and 32.63 marks respectively.
On the other side, key support levels are seen at 31.86, 31.73, 31.50, 31.38, 31.26, 31.18, 30.99, 30.85 and 30.39 marks respectively.
Taiwan stocks open flat at 9,009.78 points.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
Taiwan will release export orders, current account as well as balance of payment data at 0810 GMT.
We prefer to go long on USD/TWD around 31.92, stop loss 31.73 and target of 32.08/32.18/32.43.
