• FxWirePro: taiwanese Dollar soars in early Asia, bias remains bearish

    Source: FxWire Pro - Technicals / 22 Jan 2018 21:47:13   Eastern Standard Time

    • USD/TWD is currently trading around 29.18 marks.
       
    • It made intraday high at 29.42 and low at 29.05 marks.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 29.50 mark.
       
    • A daily close above 29.17 will drag the parity up towards key resistances around 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 29.04, 28.77 and 28.49 marks respectively
       
    • Taiwan stocks open up 0.1 pct at 11,243.49 points.

    We prefer to take short position in USD/TWD around 29.22, stop loss at 29.50 and target of 28.77.

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