FxWirePro: XAG/USD hovers around key support at $17.22 mark, sustained close below targets $16.88
XAG/USD is currently trading around $17.24 marks. It made intraday high at $17.37 and low at $17.21 levels. Intraday bias remains neutral till the time pair holds key support at $17.22 mark. A daily close above $17.37 wi…
It made intraday high at $17.37 and low at $17.21 levels.
Intraday bias remains neutral till the time pair holds key support at $17.22 mark.
A daily close above $17.37 will test key resistances at $17.45/$17.63/$17.72/$17.98 marks respectively.
On the other side, a daily close below $17.37 will take the parity down towards key supports at $17.22/$17.06/$16.88/$16.72/$16.40/$16.28/$16.14 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 go short on XAG/USD around $17.28 with stop loss at $17.42 and target of $17.06/$16.88.
