FxWirePro: XAG/USD trades in narrow range, Fed chair Powell’s speech in focus

• XAG/USD is currently trading around $14.81 marks.
   
• It made intraday high at $14.84 and low at $14.78 levels.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above $14.89 will test key resistances at $14.97, $15.09, $15.22, $15.32 and $15.40 marks respectively.
   
• On the other side, a daily close below $14.81 will take the parity down towards key supports at $14.70, $14.52, $14.40 and $14.28 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 take long position on XAG/USD only above $14.85, stop loss at $14.72 and target of $14.97/$15.09.