FxWirePro: USD/TWD remains highly volatile during early hours of Asia, bias remains neutral
12 September 2016, 06:56
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- USD/TWD is currently trading around 31.64 marks.
- It made intraday high at 31.69 and low at 31.19 marks.
- Intraday bias remains neutral till the time pair holds key resistance at
31.82 marks.
- A daily close above 31.78 will drag the parity up towards key resistances
around 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
- On the other side, key support levels are seen at 31.50, 31.27, 31.18,
31.09, 30.99, 30.85 and 30.39 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to go short on USD/TWD around 31.76 with stop loss at 31.98 and target of 31.27/31.18.
