FxWirePro: XAG/USD hits fresh 5-month low at $16.00 mark, U.S. ADP job data in focus

• XAG/USD is currently trading around $16.07 marks.
   
• It made intraday high at $16.12 and low at $16.05 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at $16.22 mark.
   
• A daily close above $16.07 will test key resistances at $16.22, $16.32, $16.40, $16.49, $16.57, $16.68, $16.90, $17.08 and $17.17 marks respectively.
   
• On the other side, a daily close below $16.07 will take the parity down towards key supports at $15.99, $15.91, $15.84, $15.72, $15.59 and $15.44 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 in XAG/USD around $16.09, stop loss $16.22 and target of $15.84 mark.

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