• FxWirePro: USD/TWD rejects key support at 30.70 Mark, consistent close above targets 31.05 Mark

    Source: FxWire Pro - Technicals / 17 Oct 2018 00:40:54   America/New_York

    • USD/TWD is currently trading around 30.80 marks.
       
    • It made intraday high at 30.85 and low at 30.72 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 30.70 mark.
       
    • A daily close above 30.70 will drag the parity up towards key resistances around 30.90, 31.05, 31.18, 31.28, 31.42 and 31.77 marks respectively.
    • On the other side, key support levels are seen at 30.70, 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 0.7 pct at 10,048.43 points.

    We prefer to take long position on USD/TWD around 30.78, stop loss at 30.70 and target of 31.05/31.42.

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