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- XAG/USD is currently trading around $17.31 marks.
- It made intraday high at $17.43 and low at $17.24 levels.
- Intraday bias remains neutral till the time pair holds initial resistance at $17.32 marks.
- A sustained close above $17.32 tests key resistances at $17.38, $17.48 and $17.84 marks respectively.
- On the other side, a daily close below $17.11 will take the parity down towards key supports at $17.06, 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.
- U.S economic calendar is empty for the day. Market anticipates range bound movement for the day.
We prefer to take long position in XAG/USD only above $17.32 with stop loss at $17.11 and target $17.48/$17.80 marks.
