- USD/TWD is currently trading around 30.20 marks.
- It made intraday high at 30.45 and low at 30.17 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 30.69 marks.
- A daily close above 30.42 will drag the parity up towards key resistances around 30.69, 30.90, 31.02, 31.15, 31.26, 31.78, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, key support levels are seen at 30.06, 29.92, 29.85, 29.76 and 29.61 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position in USD/TWD around 30.22, stop loss 30.42 and target of 30.06/29.92.
