FxWirePro: USD/TWD hovers around 32.00 mark, bias remains bearish below 32.08

• USD/TWD is currently trading around 31.99 mark,
   
• It made intraday high at 32.08 and low at 31.93 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 32.08 marks.
   
• A sustain close below 31.87 mark will tests key supports at 31.72, 31.58, 31.40 and 31.17 marks respectively.
   
• Alternatively, reversal from key support will drag the parity higher back above 32.08 marks to test key resistances at 32.17, 32.25, 32.43 and 32.63 marks respectively.
   
• In addition, Taiwan stocks open down 0.2 pct at 9,013.52 points and currently trading around 0.56% lower at 8,978.82 points.

We prefer to take short position in USD/TWD around 32.02, stop loss 32.17 and target 31.72 marks.