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- USD/TWD is currently trading around 31.30 mark.
- It made intraday high at 31.44 and low at 31.26 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.55 marks.
- A sustain close below 31.31 mark will test key supports at 31.13, 30.99 and 30.70 marks respectively.
- Alternatively, reversal from key support will drag the parity up towards key resistances around 31.55, 31.72, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- Taiwan stocks open flat at 9,423.05 points.
We prefer to take short position in USD/TWD only below 31.25, stop loss 31.55 and target 31.13/30.99/30.85.
