FxWirePro: USD/TWD hovers around key support at 31.77 mark, consistent break below targets 31.50
USD/TWD is currently trading around 31.76 marks. It made intraday high at 31.86 and low at 31.71 marks. Intraday bias remains neutral till the time pair holds key support at 31.77 marks. A daily close above 31.77 will dr…
It made intraday high at 31.86 and low at 31.71 marks.
Intraday bias remains neutral till the time pair holds key support at 31.77 marks.
A daily close above 31.77 will drag the parity up towards key resistances around 32.08, 32.18, 32.25, 32.43 and 32.63 marks respectively.
On the other side, key support levels are seen at 31.77, 31.50, 31.38, 31.26, 31.18, 30.99, 30.85 and 30.39 marks respectively.
Taiwan stocks open up 0.3 pct at 8,955.76 points.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to go long on USD/TWD only above 31.80, stop loss 31.50 and target of 32.08/32.18/32.43.
