FxWirePro: USD/TWD touches 29.75 mark in early Asia, sustained close below targets 29.11 mark
USD/TWD is currently trading around 29.99 marks. It made intraday high at 30.02 and low at 29.75 marks. Intraday bias remains slightly bullish for the moment. A daily close above 30.02 will drag the parity up towards key…
It made intraday high at 30.02 and low at 29.75 marks.
Intraday bias remains slightly bullish for the moment.
A daily close above 30.02 will drag the parity up towards key resistances around 30.28, 30.50, 30.70, 30.87, 31.02, 31.22, 31.40, 31.71 and 31.90 marks respectively.
On the other side, key support levels are seen at 29.74, 29.46, 29.28, 29.11 and 29.00 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Taiwanese stock was trading around 0.26 pct higher at 11,031.91 points.
We prefer to take short position on USD/TWD only below 29.74, stop loss at 30.15 and target of 29.46/29.11.
