• FxWirePro: USD/TWD moves directionless since two months, stay neutral

    Source: FxWire Pro - Technicals / 22 Jan 2019 03:59:23   Europe/London

    • USD/TWD is currently trading around 30.87 marks.
    • It made intraday high at 30.93 and low at 30.85 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 down 0.1 pct at 9,880.54 points.
    • Taiwan will release jobless rate at 0800 GMT.

    Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

Share on,