HALISTER1: USD/TWD NDFs May Bounce From Fibo Level If Orders Weak: Analysis

USD/TWD NDFs May Bounce From Fibo Level If Orders Weak: Analysis

(Bloomberg) -- If Taiwan’s export orders fail to post growth in September, USD/TWD 1-month NDF could rebound from Fibonacci support at 31.351, Bloomberg strategist Andrew Robinson writes.
  • Level represents 61.8% retracement of the rally from Sept. 22 to Oct. 17
  • Export orders probably rose 2.0% y/y following 8.3% expansion in Aug., median est. in Bloomberg survey shows; ests. range from -5.0% to +9.2%; data due Thursday at 4pm local time
  • 1-month NDF down 0.1% at 31.487 after touching 31.333, lowest in two weeks
  • NOTE: Andrew Robinson is an FX strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

To de-activate this alert, click here

UUID: 7947283