- USD/TWD is currently trading around 31.71 marks.
- It made intraday high at 31.80 and low at 31.64 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.84 marks.
- A daily close above 31.84 will drag the parity up towards key resistances around 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, key support levels are seen at 31.64, 31.45, 31.34, 31.26, 31.18, 30.99, 30.85 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 9,175.07 points.
We prefer to go short on USD/TWD around 31.75, stop loss 31.84 and target of 31.45.
