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- XAG/USD is currently trading around $16.51marks.
- It made intraday high at $16.60 and low at $16.41 levels.
- Intraday bias remains bullish till the time pair holds key support at $16.30 mark.
- A daily close above $16.57 will test key resistances at $16.62, $16.80 and $16.97 marks respectively.
- On the other side, a daily close below $16.57 will take the parity down towards key supports at $16.30, $16.17, $16.02, $15.90, $15.70, $15.47 and $15.40 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 long position on XAG/USD around $16.48, stop loss at $16.38 and target of $16.80.
