FxWirePro: XAG/USD exhibits range bound movement, faces strong resistance at $16.87
XAG/USD is currently trading around $16.65 marks. It made intraday high at $16.74 and low at $16.56 levels. Intraday bias remains slightly bullish till the time pair holds immediate support at $16.40 marks. A daily close…
It made intraday high at $16.74 and low at $16.56 levels.
Intraday bias remains slightly bullish till the time pair holds immediate support at $16.40 marks.
A daily close above $16.87 will test key resistances at $16.99/$17.08/$17.22/$17.45/$17.82/$18.25/$18.48/$18.99/$19.29/$19.52 marks respectively.
On the other side, a daily close below $16.59 will take the parity down towards key supports at $16.40/$16.27/$16.11/$15.88/$15.76/$15.32/$15.01 marks respectively.
We prefer to take short position in XAG/USD around $16.70 stop loss at $16.87 and target of $16.40/$16.27/$16.11.
