- USD/TWD is currently trading around 31.32 marks.
- It made intraday high at 31.42 and low at 31.15 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.52 marks.
- A daily close above 31.52 will drag the parity up towards key resistances around 31.62, 31.82, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, key support levels are seen at 31.15, 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 stocks open up 0.5 pct at 9,241.61 points.
We prefer to go short on USD/TWD around 31.38 with stop loss at 31.52 and target of 31.15/30.99.
