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- AG/USD is currently trading around $16.35 marks.
- It made intraday high at $16.36 and low at $16.15 levels.
- Intraday bias remains neutral till the time pair holds key resistance at $16.42 mark.
- A daily close above $16.34 will test key resistances at $16.42, $16.57, $16.80 and $16.97 marks respectively.
- On the other side, a daily close below $16.19 will take the parity down towards key supports at $16.02, $15.90, $15.70, $15.47 and $15.40 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 $16.42, stop loss at $16.15 and target of $16.57/$16.80.
