- 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 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.
