FxWirePro: USD/TWD hovers around 31.00 mark, sustained close above 31.10 requires for upside rally

• USD/TWD is currently trading around 30.96 marks.
   
• It made intraday high at 31.00 and low at 30.90 marks.
   
• Intraday bias remains neutral till the time pair holds key resistance at 31.10 mark.
   
• A daily close above 31.10 will drag the parity up towards key resistances around 31.18, 31.28, 31.42 and 31.77 marks respectively.

• On the other side, key support levels are seen at 30.90, 30.70, 30.45, 30.28, 30.15 and 30.05 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Taiwan stocks open down 0.1 pct at 9,508.81 points.

We prefer to take long position on USD/TWD only above 31.02, stop loss at 30.85 and target of 31.18/31.42.