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Taiwan dollar appreciates despite rate cut by Central Bank but positive comments by Central bank governor

  • USD/TWD is currently trading around 32.53 levels.
     
  • It made intraday high at 32.71 and low at 32.45 levels.
     
  • Taiwan Central bank cuts benchmark interest rate by 0.125 pct point to 1.5 pct.
     
  • Taiwan central bank says outlook for consumer prices is stable and added economic growth seen gradually recovering quarter by quarter.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 32.74 marks.
     
  • On the down side, key support levels falls at 32.28 marks.

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.

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