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Relief Rally Extends to 112.75, but AUDJPY EMA Structure Favors Selling 
- XAG/USD is currently trading around $17.60 marks.
- It made intraday high at $17.65 and low at $17.52 levels.
- Intraday bias remains neutral till the time pair holds key resistance at $17.62 mark.
- A daily close above $17.62 will test key resistances at $17.87, $18.02, $18.22, $18.27, $18.45, $18.76, $19.07 and $19.27 marks respectively.
- On the other side, a daily close below $17.55 will take the parity down towards key supports at $17.40, $17.17, $16.97, $16.72, $16.40 and $16.17 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 only above $17.62, stop loss at $17.48 and target of $17.87/$18.02.
