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FxWirePro: Silver hovers around $17.00 mark, U.S. FOMC meeting minutes in focus

  • XAG/USD is currently trading around $17.01 marks.
     
  • It made intraday high at $17.13 and low at $16.97 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at $16.82 mark.
     
  • A daily close above $17.20 will test key resistances at $17.37, $17.48 and $17.78 marks respectively.
     
  • On the other side, a daily close below $16.83 will take the parity down towards key supports at $16.70, $16.57, $16.07, $15.90, $15.70, $15.47 and $15.40 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take long position on XAG/USD around $17.00, top loss at $16.90 nd target of $17.13/$17.37.

By Aarti Panchal
  • Market Data
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