- USD/TWD is currently trading around 31.21 marks.
- It made intraday high at 31.29 and low at 31.09 marks.
- Intraday bias remains neutral till the time pair holds key support at 31.09 marks.
- A daily close above 31.50 will drag the parity up towards key resistances around 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 31.09, 30.99, 30.85 and 30.39 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Taiwan will release trade balance data at 0800 GMT.
We prefer to go short on USD/TWD only below 31.09 with stop loss at 31.50 and target of 30.85/30.39.
