• FxWirePro: taiwanese Dollar rises in early Asia, downside limited

    Source: FxWire Pro - Technicals / 21 Aug 2018 00:21:36   America/New_York

    • USD/TWD is currently trading around 30.68 marks.
       
    • It made intraday high at 30.77 and low at 30.68 marks.
       
    • Intraday bias remains slightly bearish for the moment.
       
    • A daily close above 30.77 will drag the parity up towards key resistances around 30.90, 31.02, 31.17 and 31.42 marks respectively.
    • On the other side, key support levels are seen at 30.58, 30.47, 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 stocks open flat at 10,697.01 points.

    We prefer to take long position on USD/TWD around 30.60, stop loss at 30.40 and target of 30.90.

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