FxWirePro: XAG/USD enjoys roller coaster movement, FOMC rate decision in focus

• XAG/USD is currently trading around $14.90 marks.
   
• It made intraday high at $14.94 and low at $14.83 levels.
   
• Intraday bias remains neutral till the time pair holds key support at $14.80 mark.
   
• A daily close above $15.05 will test key resistances at $15.09, $15.22, $15.32 and $15.40 marks respectively.
   
• On the other side, a daily close below $14.81 will take the parity down towards key supports at $14.67, $14.52 and $14.40 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Later today U.S. will release FOMC rate statement.

We prefer to take short position on XAG/USD around $14.92, stop loss at $15.02 and target of $14.67/$14.52.