• FxWirePro: USD/TWD remains well supported below 30.50 Mark, further sideways movement likely

    Source: FxWire Pro - Technicals / 10 Dec 2019 20:52:29   America/Los_Angeles

    • USD/TWD is currently trading around 30.46 marks.
       
    • It made intraday high at 30.48 and low at 30.38 marks.
       
    • Intraday bias remains neutral 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 30.40, 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 0.48 pct higher at 11,683.27 points.

    Positioning is inconclusive at this point. We remain sideways for the time being.

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