2017.03.2220:40:00UTC+00Fxwirepro: Taiwanese Dollar Trades Marginally Higher ahead of Taiwan’s Interest Rate, Industrial Production Data

• USD/TWD is currently trading around 30.45 marks.
   
• It made intraday high at 30.51 and low at 30.39 marks.
   
• Intraday bias remains neutral till the time pair holds key resistance at 30.57 marks.
   
• A daily close above 30.47 will drag the parity up towards key resistances around 30.57, 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 30.35, 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 will release industrial production data at 0800 GMT and interest rate decision at 0830 GMT.

We prefer to take long position in USD/TWD only above 30.57, stop loss at 30.35 and target of 30.97.