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- Pair is currently trading at $14.86 levels.
- It made intraday high at $14.97 and low at $14.80 levels.
- Weekly chart suggests the bearish trend till the time pair holds key resistance at $15.70/$15.92 levels.
- A daily close above key resistance will turn the trend bullish and drag the pair towards multiyear high.
- Alternatively, current reversal from $15.92 will drag the pair back below $14.00 marks.
- Initial support levels are seen at $14.65, $14.41 and $14.03 levels.
- On the top side key resistance levels are seen at $14.97, $15.20 and $15.70 thereafter.
We prefer to take short position in XAG/USD around $14.90, stop loss $15.70 and target $13.60 levels.
