- USD/TWD is currently trading around 29.51 marks.
- It made intraday high at 29.61 and low at 29.45 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 29.65 mark.
- A daily close above 29.44 will drag the parity up towards key resistances around 29.62, 29.90, 30.02, 30.22, 30.30, 30.41, 30.50, 30.65, 30.77, 30.90, 31.02 and 31.44 marks respectively.
- On the other side, key support levels are seen at 29.44, 29.37, 29.28, 29.04 and 28.77 marks respectively.
- Taiwan stocks open up 0.4 pct at 10,932.37 points.
We prefer to take short position in USD/TWD only below 29.44, stop loss at 29.65 and target of 29.28/29.04.
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