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- XAG/USD is currently trading around $17.40 marks.
- It made intraday high at $17.40 and low at $17.32 levels.
- Intraday bias remains bullish till the time pair holds key support at $17.11 marks.
- A daily close below $17.11 will take the parity down towards key supports at $16.95, $16.88, $16.76, $16.63 and $16.32 marks respectively.
- On the other side, a sustained close above $17.42 tests key resistances at $17.49, $17.52 and $17.80 marks respectively.
- Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms bullish trend.
We prefer to take long position in XAG/USD only above $17.42 with stop loss at $17.20 and target of $17.75/ $17.99 levels.
