FxWirePro: Silver moves in narrow range ahead of FOMC rate decision, downside limited

• XAG/USD is currently trading around $15.43 marks.
   
• It made intraday high at $15.51 and low at $15.40 levels.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above $15.60 will test key resistances at $15.85, $15.96, $16.08, $16.20, $16.40 and $16.55 marks respectively.
   
• On the other side, a daily close below $15.28 will take the parity down towards key supports at $15.15, $15.02 and $14.87 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take long position on XAG/USD around $15.35, stop loss $15.20 and target of $15.65/$15.85.