FxWirePro: USD/TWD remains well supported above 31.00 mark, further sideways movement likely

• USD/TWD is currently trading around 31.13 marks.
   
• It made intraday high at 31.14 and low at 31.07 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 30.98 mark.
   
• A daily close above 31.13 will drag the parity up towards key resistances around 31.28, 31.42 and 31.77 marks respectively.

• On the other side, key support levels are seen at 30.98, 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 up and confirms the bullish trend in a daily chart.
   
• Taiwan stocks open flat at 10,556.58 points.

We prefer to take long position on USD/TWD around 31.10, stop loss at 30.98 and target of 31.18/31.28/31.42.