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- XAG/USD is currently trading around $16.15 marks.
- It made intraday high at $16.18 and low at $16.07 levels.
- Intraday bias remains slightly bearish till the time pair holds immediate resistance level at $16.19 marks.
- A sustained break above will take the parity up towards $16.34/$17.75 levels.
- Alternatively, a daily close below $15.98 will drag the parity back around $15.85/$15.77/$15.68 levels respectively.
- Initial support levels are seen at $16.07, $16.02 and $15.98 marks.
- Resistance levels are seen at $16.19, $16.34 and $17.75 thereafter.
We prefer to take long position in XAG/USD only above $16.19, stop loss $16.07 and target $16.34 marks.
