Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/TWD trades in narrow range, bias remains neutral

  • USD/TWD is currently trading around 29.82 marks.
     
  • It made intraday high at 29.89 and low at 29.81 marks.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 30.02 mark.
     
  • A daily close above 29.81 will drag the parity up towards key resistances around 30.02, 30.22, 30.38 and 30.68 marks respectively.
  • On the other side, key support levels are seen at 29.72, 29.61, 29.50, 29.43, 29.30, 29.15, 29.02, 28.99 and 28.89 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
     
  • Taiwan stocks open down 0.1 pct at 11,140.02 points.


Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.