FxWirePro: XAG/USD exhibits range bound movement, stay long only above $17.74 mark

• XAG/USD is currently trading around $17.69 marks.
   
• It made intraday high at $17.73 and low at $17.60 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at $17.74 mark.
   
• A daily close above $17.70 will test key resistances at $17.98, $18.08, $18.22, $18.40, $18.87, $18.98, $19.08 and $19.24 marks respectively.
   
• On the other side, a daily close below $17.58 will take the parity down towards key supports at $17.47, $17.32, $17.17 and $16.98 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 $17.74, stop loss at $17.58 and target of $17.98/$18.00.