• FxWirePro: USD/TWD remains well supported above 29.00 Mark, upside limited

    Source: FxWire Pro - Technicals / 19 Mar 2018 01:22:13   Eastern Standard Time

    • USD/TWD is currently trading around 29.16 marks.
       
    • It made intraday high at 29.22 and low at 29.10 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 28.95 mark.
       
    • A daily close above 29.10 will drag the parity up towards key resistances around 29.30, 29.50, 29.65, 29.90, 30.02, 30.22 and 30.30 marks respectively.
    • On the other side, key support levels are seen at 29.02, 28.99, 28.89, 28.77 and 28.49 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 down 0.2 pct at 11,004.81 points.

    We prefer to take short position in USD/TWD around 29.20, stop loss 29.32 and target of 29.02/28.89.

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