2017.04.2001:04:00UTC+00Fxwirepro: Usd/twd Trades in Narrow Range, Taiwan’s Export Orders in Focus

• USD/TWD is currently trading around 30.41 marks.
   
• It made intraday high at 30.47 and low at 30.34 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 30.30 marks.
   
• A daily close above 30.42 will drag the parity up towards key resistances around 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 30.30, 30.20, 30.06, 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. Current upside movement is short term trend correction only.
   
• Taiwan will release export orders data at 0800 GMT.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.