2017.03.1921:34:00UTC+00Fxwirepro: Taiwanese Dollar Trades at 30.5 Against U.s. Dollar, Strongest Level in About 22 Months

• USD/TWD is currently trading around 30.50 marks.
   
• It made intraday high at 30.57 and low at 30.42 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 30.72 marks.
   
• A daily close above 30.54 will drag the parity up towards key resistances around 30.72, 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 30.42, 30.35, 30.24 and 30.05 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 9,905.81 points.

We prefer to go short on USD/TWD around 30.55 with stop loss at 30.72 and target of 30.35.