FxWirePro: XAG/USD stabilizes below $17.50 mark, U.S. retail sales data in focus
XAG/USD is currently trading around $17.30 marks. It made intraday high at $17.45 and low at $17.18 levels. Intraday bias remains bearish till the time pair holds key resistance at $17.72 mark. A daily close above $17.63…
It made intraday high at $17.45 and low at $17.18 levels.
Intraday bias remains bearish till the time pair holds key resistance at $17.72 mark.
A daily close above $17.63 will test key resistances at $7.72, $17.87, $18.02, $18.17, $18.45, $18.76, $19.07 and $19.27 marks respectively.
On the other side, a daily close below $17.38 will take the parity down towards key supports at $17.17, $16.97, $16.72, $16.40 and $16.17 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 XAG/USD around $17.32, stop loss at $17.47 and target of $17.17/$16.97.
