- USD/TWD is currently trading around 30.18 marks.
- It made intraday high at 30.21 and low at 30.08 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 30.22 marks.
- A daily close above 30.14 will drag the parity up towards key resistances around 30.22, 30.30, 30.40, 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 30.05, 29.92, 29.85, 29.76 and 29.61 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 up 0.3 pct at 9,967.01 points.
We prefer to take long position in USD/TWD only above 30.22, stop loss at 30.05 and target of 30.40.
