• FxWirePro: USD/TWD stabilizes below 31.00 Mark, taiwan’s industrial output data in focus

    Source: FxWire Pro - Technicals / 22 Oct 2018 23:11:05   America/New_York

    • USD/TWD is currently trading around 30.94 marks.
       
    • It made intraday high at 30.97 and low at 30.85 marks.
       
    • Intraday bias remains neutral till the time pair holds key resistance at 31.02 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, 30.45, 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 will release industrial output data at 0800 GMT.
       
    • Taiwan stocks open down 0.6 pct at 9,912.28 points.

    We prefer to take long position on USD/TWD only above 31.02, stop loss at 30.70 and target of 31.42.

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