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- XAG/USD is currently trading around $17.52 marks.
- It made intraday high at $17.57 and low at $17.49 levels.
- Intraday bias remains neutral till the time pair holds key resistance at $17.60 mark.
- A daily close above $17.54 will test key resistances at $17.62, $17.73, $17.82 and $17.90 marks respectively.
- On the other side, a daily close below $17.54 will take the parity down towards key supports at $17.48/$17.35/$17.26/$17.18/$17.01/$16.87/$16.75/$16.55/$16.42/$16.28/$16.10 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to go long on XAG/USD only above $17.62 with stop loss at $17.39 and target of $17.90.
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