• FxWirePro: USD/TWD hovers around key support at 30.70 Mark, taiwan’s revised GDP data in focus

    Source: FxWire Pro - Technicals / 17 Aug 2018 00:03:28   America/New_York

    • USD/TWD is currently trading around 30.76 marks.
       
    • It made intraday high at 30.83 and low at 30.75 marks.
       
    • Intraday bias remains slightly bearish till the time pair holds immediate resistance at 30.90 mark.
       
    • A daily close above 30.90 will drag the parity up towards key resistances around 31.02, 31.17 and 31.42 marks respectively.
    • On the other side, key support levels are seen at 30.70, 30.58, 30.47, 30.40, 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. Currnt downside movement is short term trend correction only.
       
    • Taiwan stocks open up 0.2 pct at 10,702.60 points.
       
    • Taiwan will release revised GDP data at 0800 GMT.

    We prefer to take short position on USD/TWD only below 30.70, stop loss at 30.90 and target of 30.47.

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