- XAG/USD is currently trading around $16.39 marks.
- It made intraday high at $16.43 and low at $16.33 levels.
- Intraday bias remains bullish till the time pair holds key support at $16.11 marks.
- A daily close below $16.11 will take the parity down towards key support at $15.95, $15.88 and $15.62(20D EMA) marks respectively.
- Alternatively, current upside trend will take the parity higher towards key resistances at $16.45, $16.63 and $16.90 marks respectively.
- Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms bullish trend.
We prefer to take long position in XAG/USD only above $16.42, stop loss $16.28 and target $16.90 marks.
