FxWirePro: USD/TWD trades in narrow range, Taiwan’s revised GDP data in focus

• USD/TWD is currently trading around 30.10 marks.
   
• It made intraday high at 30.18 and low at 30.00 marks.
   
• Intraday bias remains neutral for the moment.


• A daily close above 30.07 will drag the parity up towards key resistances around 30.23, 30.48, 30.69, 30.90, 31.02, 31.15, 31.26, 31.78, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
   
• On the other side, key support levels are seen at 29.90, 29.84, 29.72, 29.61 and 29.28 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Taiwan stocks open down 0.2 pct at 10,090.18 points.


• Taiwan will release revised GDP data at 0800 GMT.

We prefer to take short position in USD/TWD only below 30.00, stop loss at 30.23 and target of 29.90/29.72/29.50/29.28.