FxWirePro: USD/TWD touches 29.77 mark in early Asia; hits lowest level since June 01, 2018
USD/TWD is currently trading around 29.96 marks. It made intraday high at 30.00 and low at 29.77 marks. Intraday bias remains slightly bullish for the moment. A daily close above 29.84 will drag the parity up towards key…
It made intraday high at 30.00 and low at 29.77 marks.
Intraday bias remains slightly bullish for the moment.
A daily close above 29.84 will drag the parity up towards key resistances around 30.02, 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 29.70, 29.46, 29.28, 29.11 and 29.00 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Taiwanese stock was trading around 1.96 pct higher at 11,385.21 points.
We prefer to take short position on USD/TWD around 30.00, stop loss at 30.10 and target of 29.70/29.46.
