FxWirePro: XAG/USD hovers around $14.60 mark, upside limited
XAG/USD is currently trading around $14.60 marks. It made intraday high at $14.62 and low at $14.53 levels. Intraday bias remains neutral till the time pair holds key support at $14.52 mark. A daily close above $14.58 wi…
It made intraday high at $14.62 and low at $14.53 levels.
Intraday bias remains neutral till the time pair holds key support at $14.52 mark.
A daily close above $14.58 will test key resistances at $14.78, $14.92, $15.08 and $15.27 marks respectively.
On the other side, a daily close below $14.58 will take the parity down towards key supports at $14.52, $14.47, $14.40, $14.35, $14.22, $14.17 and $14.07 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 $14.65, stop loss $14.72 and target of $14.40.
