FxWirePro: USD/TWD hovers around key support at 30.87 mark, Taiwan’s trade balance data in focus

• USD/TWD is currently trading around 30.93 marks.
   
• It made intraday high at 30.95 and low at 30.87 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 30.87 mark.
   
• A daily close above 31.03 will drag the parity up towards key resistances around 31.22, 31.40, 31.71, 31.90, 32.46 and 32.88 marks respectively.

• On the other side, key support levels are seen at 30.87, 30.76, 30.54, 30.38 and 30.11 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Taiwan will release trade balance data around 0800 GMT.
   
• Taiwan’s stock was trading 0.53 pct higher at 10,951.99 points.

We prefer to take short position on USD/TWD around 30.90, stop loss 31.10 and target of 30.54.