FxWirePro: USD/TWD hits fresh 1-year low to 31.49, likely to fall below 31.00 mark
USD/TWD is currently trading around 31.61 marks. It made intraday high at 31.65 and low at 31.49 marks. Intraday bias remains bearish till the time pair holds key resistance at 31.98 marks. A sustain close below 31.49 ma…
It made intraday high at 31.65 and low at 31.49 marks.
Intraday bias remains bearish till the time pair holds key resistance at 31.98 marks.
A sustain close below 31.49 mark will test key supports at 31.17, 30.85 and 30.39 marks respectively.
Alternatively, reversal from key support will drag the parity up towards 31.98 mark to test key resistances at 32.12, 32.25, 32.43 and 32.63 marks respectively.
We prefer to take short position in USD/TWD around 31.65, stop loss 31.98 and target 30.85.
