- XAG/USD is currently trading around $14.58 marks.
- It made intraday high at $14.62 and low at $14.57 levels.
- Intraday bias remains bearish till the time pair holds key resistance at $14.70 mark.
- A daily close above $14.60 will test key resistances at $14.70, $14.80, $15.09, $15.22, $15.32 and $15.40 marks respectively.
- On the other side, a daily close below $14.60 will take the parity down towards key supports at $14.52, $14.40 and $14.28 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- U.S. will release NFP job data around 1230 GMT.
We prefer to take short position on XAG/USD around $14.60, stop loss at $14.72 and target of $14.40.
