• FxWirePro: taiwanese Dollar trades marginally lower against U.S. Dollar, bias remains slightly bullish

    Source: FxWire Pro - Technicals / 20 Mar 2018 23:19:54   Eastern Standard Time

    • USD/TWD is currently trading around 29.18 marks.
       
    • It made intraday high at 29.21 and low at 29.13 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 29.02 mark.
       
    • A daily close above 29.20 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 29.10, 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. Current upside movement is short term trend correction only.
       
    • Taiwan stocks open up 0.2 pct at 11,037.35 points.

    We prefer to take long position in USD/TWD around 29.15, stop loss 29.02 and target of 29.50.

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