FxWirePro: XAG/USD rejects key resistance at $14.82 mark, FOMC meeting minutes in focus

• XAG/USD is currently trading around $14.61 marks.
   
• It made intraday high at $14.66 and low at $14.60 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at $14.82 mark.
   
• A daily close above $14.64 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 $14.64 will take the parity down towards key supports at $14.58, $14.40, $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.
   
• Later today U.S. FOMC meeting minutes in focus.

We prefer to take short position on XAG/USD around $14.62, stop loss $14.72 and target of $14.40/$14.22.