2017.05.2121:47:00UTC+00Fxwirepro: Taiwanese Dollar Strengthens Against U.s. Dollar, Hits Highest Level Since December 2013

• USD/TWD is currently trading around 29.98 marks.
   
• It made intraday high at 30.05 and low at 29.91 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 30.31 mark.
   
• A daily close above 30.01 will drag the parity up towards key resistances around 30.31, 30.48, 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 29.92, 29.85, 29.72, 29.61 and 29.28 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 9,965.08 points.
   
• Taiwan April unemployment rate 3.78 pct vs 3.84 pct previous release.

We prefer to take short position in USD/TWD around 30.00, stop loss at 30.31 and target of 29.72/29.50/29.28.