FxWirePro: XAG/USD trades in narrow range, faces immediate resistance at $17.22 mark

• XAG/USD is currently trading around $17.12 marks.
   
• It made intraday high at $17.17 and low at $17.06 levels.
   
• Intraday bias remains bullish till the time pair holds key support at $16.90 mark.
   
• A daily close above $17.10 will test key resistances at $17.22, $17.30, $17.42, $17.49, $16.67, $17.82, $17.95, $18.12, $18.24, $18.39, $18.52 and $18.63 marks respectively.
   
• On the other side, a daily close below $17.10 will take the parity down towards key supports at $16.98, $16.91, $16.70, $16.52, $16.40, $16.21 and $16.10 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 long position in XAG/USD around $17.10, stop loss $16.98 and target of $17.22/$17.30/$17.42.

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