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- USD/TWD is currently trading around 31.37 marks.
- It made intraday high at 31.43 and low at 31.31 marks.
- Intraday bias remains bullish till the time pair holds key support at 31.22 mark.
- A daily close above 31.40 will drag the parity up towards key resistances around 31.71, 31.90, 32.46 and 32.88 marks respectively.
- On the other side, key support levels are seen at 31.18, 31.02, 30.89, 30.68 and 30.56 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Taiwanese stock was trading around 0.02 pct higher at 10,530.45 points.
- Taiwan will release industrial production data around 0800 GMT.
We prefer to take long position on USD/TWD around 31.38, stop loss at 31.20 and target of 31.90.
