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- USD/TWD is currently trading around 31.41 marks.
- It made intraday high at 31.46 and low at 31.40 marks.
- Intraday bias remains neutral till the time pair moves in stiff boundaries from 31.02 to 31.70 mark.
- A daily close above 31.50 will drag the parity up towards key resistances around 31.71, 31.90, 32.46 and 32.88 marks respectively.
- On the other side, key support levels are seen at 31.22, 31.02, 30.89, 30.68 and 30.56 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Taiwan stock was trading around 0.80 pct lower at 10,388.60 points.
We prefer to take long position on USD/TWD only above 31.50, stop loss at 31.20 and target of 31.90.
