- XAG/USD is currently trading around $17.46 marks.
- It made intraday high at $17.62 and low at $17.41 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $17.62 mark.
- A daily close above $17.54 will test key resistances at $17.72, $17.87, $18.02, $18.17, $18.45, $18.76, $19.07 and $19.27 marks respectively.
- On the other side, a daily close below $17.47 will take the parity down towards key supports at $17.32, $17.17, $16.87, $16.72, $16.40 and $16.17 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 short position on XAG/USD only below $17.40, stop loss at $17.62 and target of $17.32/$17.17.
