FxWirePro: Silver trades marginally higher ahead of FOMC rate decision, faces key resistance at $14.78 mark
XAG/USD is currently trading around $14.66 marks. It made intraday high at $14.67 and low at $14.58 levels. Intraday bias remains slightly bullish till the time pair holds key support at $14.40 mark. A daily close above …
It made intraday high at $14.67 and low at $14.58 levels.
Intraday bias remains slightly bullish till the time pair holds key support at $14.40 mark.
A daily close above $14.73 will test key resistances at $14.78, $14.92, $15.08 and $15.27 marks respectively.
On the other side, a daily close below $14.61 will take the parity down towards key supports at $14.57, $14.47, $14.40, $14.35, $14.22, $14.17 and $14.07 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 only above $14.72, stop loss $14.55 and target of $14.78/$14.92/$15.02.
