FxWirePro: USD/TWD hovers around key support at 31.60, consistent break below targets 31.13

• USD/TWD is currently trading around 31.62 marks.
   
• It made intraday high at 31.71 and low at 31.56 marks.
   
• Intraday bias remains neutral till the time pair holds key resistance at 31.77 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 31.60, 31.27, 31.13, 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.

We prefer to go short on USD/TWD around 31.65 with stop loss at 31.78 and target of 31.27/31.13.