FxWirePro: USD/TWD hits fresh 3-month high at 31.91, faces strong resistance at 32.18

• USD/TWD is currently trading around 31.80 marks.
   
• It made intraday high at 31.91 and low at 31.57 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 31.44 marks.
   
• A daily close above 31.80 will drag the parity up towards key resistances around 32.18, 32.25, 32.43 and 32.63 marks respectively.
   
• On the other side, key support levels are seen at 31.50, 31.38, 31.26, 31.18, 30.99, 30.85 and 30.39 marks respectively.
   
• Taiwan stocks open down 0.9 pct at 9,067.65 points.
   
• Taiwan stocks extend loss to 2 pct.

We prefer to go long on USD/TWD around 31.80, stop loss 31.50 and target of 32.18/32.43.