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FxWirePro: USD/TWD remains well supported below 30.50 mark, Taiwan’s trade balance data in focus

  • 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.

  • Market Data
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