• FxWirePro: USD/TWD moves in rigid boundaries, further sideways movement likely

    Source: FxWire Pro - Technicals / 12 Dec 2018 22:43:44   America/New_York

    • USD/TWD is currently trading around 30.80 marks.
       
    • It made intraday high at 30.87 and low at 30.68 marks.
       
    • Intraday bias remains neutral for the moment.
       
    • A daily close above 30.92 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 0.1 pct at 9,827.32 points.

    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.

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