FxWirePro: USD/TWD remains well supported below 30.00 mark, stay bearish
USD/TWD is currently trading around 29.96 marks. It made intraday high at 30.02 and low at 29.88 marks. Intraday bias remains bearish till the time pair holds key resistance at 30.10 mark. A daily close above 29.93 will …
It made intraday high at 30.02 and low at 29.88 marks.
Intraday bias remains bearish till the time pair holds key resistance at 30.10 mark.
A daily close above 29.93 will drag the parity up towards key resistances around 30.02, 30.10, 30.22, 30.30, 30.41, 30.50, 30.65, 30.77, 30.90, 31.02 and 31.44 marks respectively.
On the other side, key support levels are seen at 29.88, 29.72, 29.61, 29.40 and 29.28 marks respectively.
Taiwan stocks open up 0.1 pct at 10,837.61 points.
We prefer to take short position on USD/TWD around 30.00, stop loss at 30.10 and target of 29.72/29.40 mark.
