FxWirePro: USD/TWD hovers around 32.00 mark, down side limited

• USD/TWD is currently trading around 31.98 marks.
   
• It made intraday high at 32.09 and low at 31.88 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 31.77 marks.
   
• A daily close above 31.99 will drag the parity up towards key resistances around 32.08, 32.18, 32.25, 32.43 and 32.63 marks respectively.
   
• On the other side, key support levels are seen at 31.77, 31.62, 31.50, 31.38, 31.26, 31.18, 30.99, 30.85 and 30.39 marks respectively.
   
• Taiwan stocks open up 0.1 pct at 9,194.46 points.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to go long on USD/TWD around 31.92, stop loss at 31.77 and target of 32.09/32.20.