FxWirePro: USD/TWD remains well supported above 30.70 mark, further upside movement likely

• USD/TWD is currently trading around 30.83 marks.
   
• It made intraday high at 30.86 and low at 30.72 marks.
   
• Intraday bias remains slightly bullish for the moment.
   
• A daily close above 30.78 will drag the parity up towards key resistances around 30.90, 31.02, 31.18, 31.28, 31.42 and 31.77 marks respectively.

• On the other side, key support levels are seen at 30.70, 30.56, 30.45, 30.28, 30.15 and 30.05 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 down 0.7 pct at 9,850.08 points.

We prefer to take long position on USD/TWD around 30.80, stop loss at 30.70 and target of 31.18/31.42.