FxWirePro: XAG/USD hits fresh 2-week high at $16.16 mark, bias remains neutral
XAG/USD is currently trading around $16.10 marks. It made intraday high at $16.16 and low at $15.91 levels. Intraday bias remains neutral till the time pair holds immediate support at $15.90 mark. A daily close above $16…
It made intraday high at $16.16 and low at $15.91 levels.
Intraday bias remains neutral till the time pair holds immediate support at $15.90 mark.
A daily close above $16.08 will test key resistances at $16.14, $16.22, $16.40, $16.55, $16.65, $16.90, $17.12, $17.23, $17.33 and $17.54 marks respectively.
On the other side, a daily close below $15.98 will take the parity down towards key supports at $15.90, $15.75, $15.47 and $15.32 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 short position on XAG/USD around $16.13, stop loss $16.19 and target of $15.90/$15.75.
