• FxWirePro: taiwanese Dollar trades marginally lower against U.S. Dollar, sustained close above 30.65 requires for upside rally

    Source: FxWire Pro - Technicals / 18 Jul 2018 00:19:50   America/New_York

    • USD/TWD is currently trading around 30.57 marks.
       
    • It made intraday high at 30.58 and low at 30.49 marks.
       
    • Intraday bias remains slightly bullish for the moment.
       
    • A daily close above 30.65 will drag the parity up towards key resistances around 30.90, 31.17 and 30.42 marks respectively.
    • On the other side, key support levels are seen at 30.47, 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 up 0.3 pct at 10,811.43 points.

    We prefer to take long position on USD/TWD only above 30.65, stop loss at 30.47 and target of 30.90.

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