• FxWirePro: USD/TWD hits fresh 5 – week low at 30.32 Mark, bias remains bearish

    Source: FxWire Pro - Technicals / 11 Dec 2019 20:42:01   America/Los_Angeles

    • USD/TWD is currently trading around 30.32 marks.
       
    • It made intraday high at 30.45 and low at 30.32 marks.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 30.50 mark.
       
    • A daily close above 30.57 will drag the parity up towards key resistances around 30.70, 30.87, 31.02, 31.22, 31.40, 31.71 and 31.90 marks respectively.
    • On the other side, key support levels are seen at 30.27, 30.11, 29.84, 29.70 and 29.46 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
       
    • Taiwan’s stock was trading 1.30 pct higher at 11,853.41 points.

    We prefer to take short position on USD/TWD around 30.35, stop loss at 30.50 and target of 30.11/29.84.

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