FxWirePro: XAG/USD hovers around $15.60 mark, good to sell on rallies
XAG/USD is currently trading around $15.61 marks. It made intraday high at $15.67 and low at $15.61 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at $15.68 mark. A daily close abo…
It made intraday high at $15.67 and low at $15.61 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at $15.68 mark.
A daily close above $15.62 will test key resistances at $15.87, $15.96, $16.04, $16.20 and $16.32 marks respectively.
On the other side, a daily close below $15.62 will take the parity down towards key supports at $15.47, $15.40, $15.30, $15.20 and $15.02 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take short position on XAG/USD around $15.64, stop loss $15.72 and target of $15.47.
