FxWirePro: USD/TWD moves in stiff boundaries, further sideways movement likely

• USD/TWD is currently trading around 31.01 marks.
   
• It made intraday high at 31.06 and low at 31.00 marks.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above 31.17 will drag the parity up towards key resistances around 31.40, 31.50, 31.77, 31.90 and 32.46 marks respectively.

• On the other side, key support levels are seen at 30.89, 30.68, 30.56, 30.45, 30.28, 30.15 and 30.05 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Taiwan stock was trading around 0.14 pct higher at 10,891.44 points.

We prefer to take short position on USD/TWD only below 30.89 mark, stop loss at 31.22 and target of 30.68/30.56.