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- XAG/USD is currently trading around $19.21 marks.
- It made intraday high at $19.27 and low at $19.11 levels.
- Intraday bias remains neutral till the time pair holds key resistance at $19.27 marks.
- A daily close above $19.27 will test key resistances at $19.64/$19.75/$19.91/$20.10/$20.22/$20.32/$20.46/$20.67/$20.78/$21.09 and $21.46 marks respectively.
- Alternatively, a daily close below $19.10 will take the parity down towards key supports at $18.92, $18.77, $18.68, $18.44, $18.17, $17.69, $17.50 and $17.08 marks respectively.
- Markets shift focus to FOMC interest rate decision due on September 21, 2016.
We prefer to go short on XAG/USD around $19.24 with stop loss at $19.35 and target of $18.77/$18.44.
