FxWirePro: XAG/USD hovers around $14.80 mark, Fed chair Powell’s speech in focus
XAG/USD is currently trading around $14.78 marks. It made intraday high at $14.79 and low at $14.70 levels. Intraday bias remains neutral till the time pair holds key resistance at $14.85 mark. A daily close above $14.76…
It made intraday high at $14.79 and low at $14.70 levels.
Intraday bias remains neutral till the time pair holds key resistance at $14.85 mark.
A daily close above $14.76 will test key resistances at $14.85, $14.97, $15.09, $15.22, $15.32 and $15.40 marks respectively.
On the other side, a daily close below $14.76 will take the parity down towards key supports at $14.55, 44.40, $14.27, $14.22, $14.12 and $13.98 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 only above $14.82, stop loss at $14.67 and target of $14.97/$15.09.
