FxWirePro: USD/TWD remains well supported below 31.00 mark, stay bearish
USD/TWD is currently trading around 30.89 marks. It made intraday high at 30.97 and low at 30.86 marks. Intraday bias remains bearish till the time pair holds key resistance at 31.00 marks. A daily close above 30.94 will…
It made intraday high at 30.97 and low at 30.86 marks.
Intraday bias remains bearish till the time pair holds key resistance at 31.00 marks.
A daily close above 30.94 will drag the parity up towards key resistances around 31.02, 31.15, 31.26, 31.78, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
On the other side, key support levels are seen at 30.80, 30.72, 30.60, 30.48 and 30.39 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Taiwan stocks open flat at 9,741.29 points.
We prefer to go short on USD/TWD around 30.90 with stop loss at 31.02 and target of 30.70/30.62.
