FxWirePro: XAG/USD moves in stiff boundaries ahead of U.S. NFP job data, bias remains neutral
XAG/USD is currently trading around $14.54 marks. It made intraday high at $14.58 and low at $14.49 levels. Intraday bias remains neutral for the moment. A daily close above $14.65 will test key resistances at $14.82, $1…
It made intraday high at $14.58 and low at $14.49 levels.
Intraday bias remains neutral for the moment.
A daily close above $14.65 will test key resistances at $14.82, $14.98, $15.10, $15.32 and $15.47 marks respectively.
On the other side, a daily close below $14.57 will take the parity down towards key supports at $14.42, $14.22, $14.07, $13.90, $13.82, $13.68 and 13.51 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
U.S. will release NFP job data at 1230 GMT.
We prefer to take short position on XAG/USD only below $14.48, stop loss $14.62 and target of $14.35/$14.22.
