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- XAG/USD is currently trading around $17.24 marks.
- It made intraday high at $17.30 and low at $17.11 levels.
- Intraday bias remains bullish till the time pair holds key support at $16.85 mark.
- A daily close above $17.15 will test key resistances at $17.32, $17.40, $17.68, $17.87 and $18.02 marks respectively.
- On the other side, a daily close below $17.15 will take the parity down towards key supports at $16.90, $16.57, $16.40, $16.17 and $16.02 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take long position on XAG/USD around 17.20, stop loss at $17.02 and target of $17.40/$17.68.
