- XAG/USD is currently trading around $20.35 marks.
- It made intraday high at $20.43 and low at $19.65 levels.
- Intraday bias remains bullish till the time pair holds immediate support at $19.70 marks.
- A sustained close above $20.43 tests key resistances at $20.78, $21.09 and $21.46 marks respectively.
- On the other side, a daily close below $20.00 will take the parity down towards key supports at $19.88, $19.48, $19.34, $19.12 and $19.09 marks respectively.
- Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms the bullish trend.
We prefer to take long position in XAG/USD only above $20.43, stop loss at $19.70 and target $20.78/ $21.09 marks.
The material has been provided by InstaForex Company – www.instaforex.com