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- USD/TWD is currently trading around 31.32 marks.
- It made intraday high at 31.34 and low at 31.26 marks.
- Intraday bias remains bullish till the time pair holds key support at 30.89 mark.
- A daily close above 31.31 will drag the parity up towards key resistances around 31.40, 31.50, 31.77, 31.90 and 32.46 marks respectively.
- On the other side, key support levels are seen at 31.12, 30.89, 30.68, 30.56, 30.45, 30.28, 30.15 and 30.05 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Taiwan stock was trading around 1.84 pct lower at 10,534.38 points.
We prefer to take long position on USD/TWD around 31.28, stop loss at 31.12 and target of 31.50/31.77.
