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- USD/TWD is currently trading around 31.50 marks.
- It made intraday high at 31.73 and low at 31.48 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.82 marks.
- A daily close above 31.82 will drag the parity up towards key resistances around 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, key support levels are seen at 31.48, 31.27, 31.13, 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.
We prefer to go short on USD/TWD around 31.55 with stop loss at 31.82 and target of 31.27/31.13.
