FxWirePro: XAG/USD hits fresh 3-week high at $16.68, sustained close above targets $16.92 mark

• XAG/USD is currently trading around $16.64 marks.
   
• It made intraday high at $16.68 and low at $16.37 levels.
   
• Intraday bias remains bullish till the time pair holds key support at $16.23 levels.
   
• A daily close above $16.37 will test key resistances at $16.68/$16.76$16.92/$17.08 marks respectively.
   
• On the other side, a daily close below $16.37 will take the parity down towards key supports at $16.20/$16.05/$15.95/$15.86/$15.74/$15.66/$15.54/$15.32/$15.01 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to go long on XAG/USD only above $16.68 with stop loss at $16.23 and target of $16.92/$17.08.