FxWirePro: XAG/USD hovers around key resistance at $14.47 mark, sustained close above requires for upside rally

• XAG/USD is currently trading around $14.44 marks.
   
• It made intraday high at $14.46 and low at $14.40 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at $14.37 mark.
   
• A daily close above $14.47 will test key resistances at $14.55, $14.68, $14.85, $14.97, $15.09, $15.22, $15.32 and $15.40 marks respectively.
   
• On the other side, a daily close below $14.38 will take the parity down towards key supports at $14.28, $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 long position on XAG/USD only above $14.47, stop loss at $14.37 and target of $14.68.