• FxWirePro: USD/TWD hovers around 30.90 Mark, taiwan’s trade balance data in focus

    Source: FxWire Pro - Technicals / 06 Dec 2018 22:33:25   America/New_York

    • USD/TWD is currently trading around 30.82 marks.
       
    • It made intraday high at 30.86 and low at 30.77 marks.
       
    • Intraday bias remains slightly bullish for the moment.
       
    • A daily close above 30.83 will drag the parity up towards key resistances around 30.90, 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 0.4 pct at 9,719.46 points.
       
    • Taiwan will release trade balance 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 31.18/31.42.

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