2017.04.2423:33:00UTC+00Fxwirepro: Taiwanese Dollar Gains in Early Asia, Good to Sell on Rallies

• USD/TWD is currently trading around 30.19 marks.
   
• It made intraday high at 30.27 and low at 30.14 marks.


• Intraday bias remains bearish till the time pair holds key resistance at 30.38 marks.
   
• A daily close above 30.26 will drag the parity up towards key resistances around 30.38, 30.50, 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 30.06, 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.
   
• Taiwan stocks open up 0.2 pct at 9,737.82 points.

We prefer to take short position in USD/TWD around 30.22, stop loss at 30.38 and target of 30.06/29.92.