FxWirePro: USD/TWD hits fresh 2-month high at 30.48 mark, good to buy on dips

• USD/TWD is currently trading around 30.43 marks.
   
• It made intraday high at 30.48 and low at 30.26 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 30.21 mark.
   
• A daily close above 30.28 will drag the parity up towards key resistances around 30.50, 30.65, 30.77, 30.90, 31.02, 31.15, 31.26 and 31.44 marks respectively.
   
• On the other side, key support levels are seen at 30.21, 30.10, 30.03, 29.90, 29.72, 29.61 and 29.28 marks respectively.

• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
   
• Taiwan stocks open up 0.2 pct at 10,351.42 points.

We prefer to take long position in USD/TWD around 30.35, stop loss at 30.21 and target of 30.77 mark.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest