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- XAG/USD is currently trading around $15.02 marks.
- It made intraday high at $15.03 and low at $14.87 levels.
- Intraday bias remains bullish till the time pair holds key support at $14.87 mark.
- A daily close above $14.88 will test key resistances at $15.08, $15.22 and $15.40 marks respectively.
- On the other side, a daily close below $14.88 will take the parity down towards key supports at $14.72, $14.62, $14.55, 14.40, $14.27, $14.22, $14.12 and $13.98 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take long position on XAG/USD around $14.97, stop loss at $14.87 and target of $15.08/$15.22.
