- XAG/USD is currently trading around $15.11 levels.
- It made intraday high at $15.22 and low at $15.09 levels.
- Intraday bias remains neutral for the moment.
- A daily close below $15.12 will tests key supports at $15.01, $14.94 and $14.55 marks respectively.
- Alternatively, reversal from $15.12 will turn the bias slightly bullish and tests key resistances at $15.26/ $15.32 and $15.60 marks.
- Important to note here that, 20D, 30D and 55D EMA heads up, which confirms bullish trend.
- Later today, Fed Chair Yellen’s speech is scheduled. This will provide further direction to the parity.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
