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Relief Rally Extends to 112.75, but AUDJPY EMA Structure Favors Selling 
- XAG/USD is currently trading around $17.68 marks.
- It made intraday high at $17.75 and low at $17.61 levels.
- Intraday bias remains neutral till the time pair holds key resistance at $17.75 mark.
- A daily close above $17.63 will test key resistances at $17.75, $17.98, $18.07, $18.18 marks respectively.
- On the other side, a daily close below $17.63 will take the parity down towards key supports at $17.40, $17.02, $16.70, $16.57, $16.07, $15.90, $15.70, $15.47 and $15.40 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 long position on XAG/USD only above $17.75, stop loss at $16.50 and target of $17.98.
