FxWirePro: USD/TWD hovers around key support at 30.22 mark, Taiwan’s GDP data in focus

• USD/TWD is currently trading around 30.24 marks.
   
• It made intraday high at 30.28 and low at 30.18 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 30.38 marks.
   
• A daily close above 30.22 will drag the parity up towards key resistances around 30.38, 30.50, 30.65, 30.77, 30.90, 31.02, 31.15, 31.26 and 31.44 marks respectively.
   
• On the other side, key support levels are seen at 30.14, 30.00, 29.90, 29.84, 29.72, 29.61 and 29.28 marks respectively.
   
• Taiwan stocks open down 0.3 pct at 10,480.67 points.
   
• Taiwan will release prelim GDP data at 0800 GMT.

We prefer to take short position in USD/TWD around 30.28, stop loss 30.50 and target of 29.90.

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