FxWirePro: Silver hovers around $17.20 mark, U.S. ADP job data in focus

• XAG/USD is currently trading around $17.25 marks.
   
• It made intraday high at $17.32 and low at $17.17 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at $17.32 mark.
   
• A daily close above $17.22 will test key resistances at $17.32, $17.58, $17.87, $18.02, $18.17, $18.45, $18.76, $19.07 and $19.27 marks respectively.
   
• On the other side, a daily close below $17.22 will take the parity down towards key supports at $16.87, $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 around $17.23, stop loss at $17.12 and target of $17.32/$17.58/$17.87.