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

    Source: FxWire Pro - Technicals / 07 Jan 2019 23:11:16   America/New_York

    • USD/TWD is currently trading around 30.84 marks.
       
    • It made intraday high at 30.86 and low at 30.79 marks.
       
    • Intraday bias remains slightly bullish for the moment.
       
    • A daily close above 30.94 will drag the parity up towards key resistances around 31.02, 31.18, 31.28, 31.42 and 31.77 marks respectively.
    • On the other side, key support levels are seen at 30.70, 30.56, 30.45, 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 9,591.56 points.
       
    • Taiwan will release CPI as well as WPI data at 0800 GMT.

    We prefer to take short position on USD/TWD only below 30.70, stop loss at 31.00 and target of 30.45.

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