- 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 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.
