FxWirePro: USD/TWD trades in narrow range, Taiwan’s trade balance data in focus

• USD/TWD is currently trading around 30.10 marks.
   
• It made intraday high at 30.11 and low at 30.04 marks.
   
• Intraday bias remains bullish for the moment.
   
• A daily close above 30.34 will drag the parity up towards key resistances around 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 29.87, 29.70 and 29.46 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Taiwan’s stock was trading around 0.92 pct lower at 11,636.75 points.
   
• Taiwan will release trade balance data around 0800 GMT.

We prefer to take long position on USD/TWD around 30.05, stop loss at 29.87 and target of 30.15/30.40.