• FxWirePro: USD/TWD exhibits range bound movement, taiwan’s CPI data in focus

    Source: FxWire Pro - Technicals / 11 Feb 2019 22:51:43   America/New_York

    • USD/TWD is currently trading around 30.82 marks.
       
    • It made intraday high at 30.90 and low at 30.81 marks.
       
    • Intraday bias remains neutral till the time pair moves in stiff boundaries from 30.50 to 30.90 mark.
       
    • A daily close above 30.94 will drag the parity up towards key resistances around 31.02, 31.18, 31.28, 31.42 and 31.77 marks respectively.
    • On the other side, key support levels are seen at 30.70, 30.56, 30.45, 30.28, 30.15 and 30.05 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart
       
    • Taiwan stocks open up 0.3 pct at 10,032.08 points.
       
    • Taiwan  will release CPI as well as WPI data at 0800 GMT.

    We prefer to take long position on USD/TWD only above 30.90, stop loss at 30.70 and target of 31.18.

Share on,