- USD/TWD is currently trading around 31.78 marks.
- It made intraday high at 31.95 and low at 31.69 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 31.77 marks.
- A daily close above 31.77 will drag the parity up towards key resistances around 31.99, 32.08, 32.18, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, key support levels are seen at 31.62, 31.50, 31.38, 31.26, 31.18, 30.99, 30.85 and 30.39 marks respectively.
- Taiwan stocks open flat at 9,220.95 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 31.70, stop loss at 31.62 and target of 31.99/32.08.
