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- XAG/USD is currently trading around $15.21 marks.
- It made intraday high at $15.55 and low at $15.11 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $15.55 mark.
- A daily close above $15.53 will test key resistances at $15.86, $16.12 and $16.38 marks respectively.
- On the other side, a daily close below $15.40 will take the parity down towards key supports at $15.11, $15.02, $14.82, $14.68, $14.40, $13.97 and $13.81 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position on XAG/USD around $15.25, stop loss at $15.57 and target of $15.11/$15.02/$14.90.
