Silver (XAG/USD) loses 0.30% on Thursday, failing to clear a key resistance at $81.00 as the Greenback stages a comeback. At the time of writing, XAG/USD trades at $78.73 after hitting a daily high of $80.86.
XAG/USD Price Analysis: Technical Outlook
Silver registered a lower high and a lower low on Thursday, registering back-to-back doji candles, hinting at traders’ indecision of pushing prices higher. Momentum-wise, the Relative Strength Index (RSI) is bullish but has turned flat, an indication of consolidation.
For a bullish continuation, a decisive break above $81.00 is needed, allowing buyers to challenge the 2025 high at $83.75, followed by March’s 10-cycle high at $90.01. On further strength, bulls can test the March 2 peak at $96.39 ahead of the $100 mark.
On the other hand, if XAG/USD slides below the 100-day Simple Moving Average (SMA) of $76.94, expect a drop towards the 20-day SMA at $73.36, before the psychological $70.00 figure.
XAG/USD Price Chart – Daily
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