Fxwirepro: Usd/twd Remains Well supported Above 30.00 Mark, Faces Strong Support at 29.99 Mark

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• USD/TWD is currently trading around 30.07 marks.
   
• It made intraday high at 30.14 and low at 29.99 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 29.99 mark.
   
• A daily close above 30.03 will drag the parity up towards key resistances around 30.20, 30.32, 30.40, 30.69, 30.90, 31.02, 31.15, 31.26, 31.78, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.
   
• On the other side, key support levels are seen at 30.03, 29.92, 29.85, 29.76 and 29.61 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Taiwan stocks open flat at 10,037.58 points.

We prefer to take short position in USD/TWD only below 29.99, stop loss at 30.20 and target of 29.90/29.76.

The material has been provided by InstaForex Company – www.instaforex.com

May 16, 2017 at 10:22AM

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