FxWirePro: USD/TWD trades in narrow range, consistent close above 29.76 requires for upside rally

• USD/TWD is currently trading around 29.72 marks.
   
• It made intraday high at 29.78 and low at 29.68 marks.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above 29.76 will drag the parity up towards key resistances around 29.97, 30.08, 30.22 and 30.30 marks respectively.

• On the other side, key support levels are seen at 29.50, 29.43, 29.30, 29.15, 29.02, 28.99, 28.89 and 28.77 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Taiwan stocks open up 0.7 pct at 10,938.30 points.

We prefer to take long position on USD/TWD only above 29.82, stop loss 29.62 and target of 30.02/30.22.

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