• FxWirePro: taiwanese Dollar falls in early Asia on the back of lower than expected manufacturing PMI data

    Source: FxWire Pro - Technicals / 31 Jul 2018 22:47:18   America/New_York

    • USD/TWD is currently trading around 30.60 marks.
       
    • It made intraday high at 30.66 and low at 30.57 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 30.40 mark.
       
    • A daily close above 30.57 will drag the parity up towards key resistances around 30.75, 30.90, 31.17 and 31.42 marks respectively.
    • On the other side, key support levels are seen at 30.40, 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 July 2018 nikkei markit manufacturing PMI decrease to 53.1 vs previous 54.5.
       
    • Taiwan stocks open flat at 11,062.36 points.

    We prefer to take long position on USD/TWD only above 30.70, stop loss at 30.40 and target of 30.90/31.17.

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