FxWirePro: Silver depreciates in European hours, FOMC rate decision in focus

• XAG/USD is currently trading around $15.28 marks.
   
• It made intraday high at $15.35 and low at $15.24 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at $15.42 mark.
   
• A daily close above $15.42 will test key resistances at $15.47, $15.62 and $15.84 marks respectively.
   
• On the other side, a daily close below $15.32 will take the parity down towards key supports at $15.22, $15.16, $15.07 and $14.90 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 short position on XAG/USD around $15.32, stop loss at $15.43 and target of $15.07/$14.90.