- XAG/USD is currently trading around $17.65 marks.
- It made intraday high at $17.66 and low at $17.06 levels.
- Intraday bias remains bullish till the time pair holds initial support at $17.11 marks.
- A sustained close above $17.62 tests key resistances at $17.84, $17.99 and $18.17 marks respectively.
- On the other side, a daily close below $17.11 will take the parity down towards key supports at $17.02, 16.95 and $16.88 marks respectively.
- Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms the bullish trend.
- Today Brexit decision will be the main event for the day. Global markets expect high volatility during the day.
We prefer to take long position in XAG/USD only above $17.99, stop loss at $17.45 and target $18.72/ $19.52 marks.
