- USD/TWD is currently trading around 30.95 marks.
- It made intraday high at 31.10 and low at 30.87 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 31.10 mark.
- A daily close above 30.92 will drag the parity up towards key resistances around 31.22, 31.40, 31.50, 31.77, 31.90 and 32.46 marks respectively.
- On the other side, key support levels are seen at 30.68, 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. Current downside movement is short term trend correction only.
- Taiwan stocks open up 0.3 pct at 10,817.71 points.
We prefer to take short position on USD/TWD around 30.98, stop loss at 31.20 and target of 30.68/30.56.
