• FxWirePro: taiwanese Dollar trades marginally lower ahead of CPI, trade balance data

    Source: FxWire Pro - Technicals / 07 Aug 2018 00:31:01   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 neutral till the time pair holds key support at 30.50 mark.
    • A daily close above 30.70 will drag the parity up towards key resistances around 30.90, 31.17 and 31.42 marks respectively.
    • On the other side, key support levels are seen at 30.50, 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 down 0.1 pct at 10,997.26 points.
    • Taiwan will release CPI, WPI as well as trade balance data at 0800 GMT.

    We prefer to take short position on USD/TWD only below 30.50, stop loss at 30.70 and target of 30.28.

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