• FxWirePro: USD/TWD touches 30.60 Mark, further downside movement likely

    Source: FxWire Pro - Technicals / 20 Dec 2018 23:20:30   America/New_York

    • USD/TWD is currently trading around 30.72 marks.
       
    • It made intraday high at 30.82 and low at 30.61 marks.
       
    • Intraday bias remains bearish 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 down 0.3 pct at 9,648.98 points.

    We prefer to take short position on USD/TWD around 30.75, stop loss at 30.90 and target of 30.45.

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