- USD/TWD is currently trading around 29.74 marks.
- It made intraday high at 29.82 and low at 29.63 marks.
- Intraday bias remains bullish till the time pair holds key support at 29.50 marks.
- A daily close above 29.70 will drag the parity up towards key resistances around 29.97, 30.08, 30.22 and 30.30 marks respectively.
- On the other side, key support levels are seen at 29.50, 29.43, 29.30, 29.15, 29.02, 28.99, 28.89 and 28.77 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Taiwan stocks open up 0.5 pct at 10,808.40 points.
We prefer to take long position on USD/TWD around 29.70, stop loss 29.50 and target of 30.02/30.22.
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