2012.05.07 04:04:36 MARKET TALK: USD/TWD Higher; 29.350 Resistance Tipped

0204 GMT [Dow Jones] The USD/TWD is higher at 29.311, from 29.280 in late Asia trade Friday, due to outflows from the local stock market amid growing uncertainties over the global economy, says a local bank trader. Taiwan shares are last down 2.0% after sharp falls in the U.S. stocks Friday as well as election results in France and Greece which saw ruling parties defeated. "But the pair is likely to see strong resistance at 29.35 as exporters are expected to sell the greenback aggressively at this level," he adds. (aries.poon@dowjones.com) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com (END) Dow Jones Newswires May 06, 2012 22:04 ET (02:04 GMT)