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- USD/TWD is currently trading around 31.60 marks.
- It made intraday high at 31.68 and low at 31.43 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 31.68 marks.
- A daily close above 31.68 will drag the parity up towards key resistances around 31.82, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, key support levels are seen at 31.34, 31.26, 31.18, 30.99, 30.85 and 30.39 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Taiwan stocks open down 0.2 pct at 9,201.55 points.
We prefer to go long on USD/TWD only above 31.68, stop loss 31.34 and target of 31.82.
