- XAG/USD is currently trading around $17.30 marks.
- It made intraday high at $17.34 and low at $17.12 levels.
- Intraday bias remains bullish till the time pair holds initial support at $17.11 marks.
- A daily close below $17.11 will take the parity down towards key supports at $17.06, 16.95 and $16.88 marks respectively.
- On the other side, a sustained close above $17.25 tests key resistances at $17.35, $17.45 and $17.80 marks respectively.
- Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms bullish trend.
We prefer to take long position in XAG/USD only above $17.32 with stop loss at $17.11 and target $17.47/$17.80 marks.
The material has been provided by InstaForex Company – www.instaforex.com