• FxWirePro: taiwanese Dollar trades almost flat in early Asia, sustained close above 29.62 requires for upside rally

    Source: FxWire Pro - Technicals / 24 Apr 2018 23:35:08   America/New_York

    • USD/TWD is currently trading around 29.63 marks.
       
    • It made intraday high at 29.65 and low at 29.60 marks.
       
    • Intraday bias remains neutral for the moment.
       
    • A daily close above 29.61 will drag the parity up towards key resistances around 29.65, 29.90, 30.02, 30.22 and 30.30 marks respectively.
    • On the other side, key support levels are seen at 29.43, 29.30, 29.15, 29.02, 28.99, 28.89, 28.77 and 28.49 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 0.4 pct at 10,541.83 points.

    We prefer to take long position on USD/TWD around  29.60, stop loss 29.40 and target of 30.02.

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