FxWirePro: USD/TWD hits fresh 4-week low at 31.58 mark, faces strong support at 31.45

• USD/TWD is currently trading around 31.69 marks.
   
• It made intraday high at 31.89 and low at 31.58 marks.
   
• Intraday bias remains bearish for the moment.
   
• A daily close above 31.90 will drag the parity up towards key resistances around 32.08, 32.15, 32.25, 32.43 and 32.63 marks respectively.
   
• On the other side, key support levels are seen at 31.58, 31.45, 31.38, 31.26, 31.18, 30.99, 30.85 and 30.39 marks respectively.
   
• Taiwan stocks open up 0.5 pct at 9,308.90 points.
   
• Taiwan’s November trade balance $+4.27 bln (poll +$3.215 bln).

We prefer to go short on USD/TWD around 31.70, stop loss 31.90 and target of 31.45.