FxWirePro: XAG/USD moves in stiff boundaries, Fed chair Powell’s speech in focus

• XAG/USD is currently trading around $15.76 marks.
   
• It made intraday high at $15.80 and low at $15.65 levels.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above $15.80 will test key resistances at $15.92, $16.07 and $16.15 marks respectively.
   
• On the other side, a daily close below $15.65 will take the parity down towards key supports at $15.57, $15.48, $15.30 and $15.22 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 around $15.78, stop loss $15.85 and target of $15.62/$15.57/$15.48.