18.05.201723:28:00UTC+00Fxwirepro: Taiwanese Dollar Marginally Lower in Early Hours of Asia, Upside Limited

• USD/TWD is currently trading around 30.25 marks.
   
• It made intraday high at 30.31 and low at 30.17 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 30.21 mark.
   
• A daily close above 30.21 will drag the parity up towards key resistances around 30.37, 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 30.21, 30.11, 30.03, 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 flat at 9,970.40 points.

We prefer to take short position in USD/TWD only below 30.21, stop loss at 30.37 and target of 30.03.