FxWirePro: USD/TWD remains well supported below 30.90 mark, stay neutral

• USD/TWD is currently trading around 30.81 marks.
   
• It made intraday high at 30.82 and low at 30.78 marks.
   
• Intraday bias remains neutral till the time pair moves in stiff boundaries from 30.50 to 30.90 mark.
   
• A daily close above 30.94 will drag the parity up towards key resistances around 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 up 0.3 pct at 10,123.61 points.

We prefer to take long position on USD/TWD only above 30.90, stop loss at 30.70 and target of 31.18.