- USD/TWD is currently trading around 30.38 marks.
- It made intraday high at 30.45 and low at 30.34 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 30.50 mark.
- A daily close above 30.42 will drag the parity up towards key resistances around 30.50, 30.70, 30.90, 31.17 and 30.42 marks respectively.
- On the other side, key support levels are seen at 30.38, 30.22, 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 up 0.3 pct at 10,638.90 points.
- Taiwan will release trade balance data at 0800 GMT.
We prefer to take short position on USD/TWD around 30.40, stop loss at 30.50 and target of 30.22.
