XAG/USD Drifts Lower To $82.00; 38.2% Fibo. Holds The Key

By Haresh Menghani of FX Street

Where Forex Never Rests • Feb 11, 2026 at 8:40 PM EST

Silver attracts some sellers during the Asian session on Thursday and reverses a major part of the previous day's gains to the $86.30 area, or the weekly high.

Silver, Bars, 5000 Grams, Real Value

Image Source: Pixabay

Silver (XAG/USD) attracts some sellers during the Asian session on Thursday and reverses a major part of the previous day's gains to the $86.30 area, or the weekly high. The white metal currently trades just below mid-$82.00s, down over 2.5% for the day, though it remains confined in a familiar range held since the beginning of this week.

From a technical perspective, the overnight failure near the 38.2% Fibonacci retracement level of the recent downfall from the all-time peak and the subsequent fall warrants some caution for the XAG/USD bulls. Moreover, the Moving Average Convergence Divergence (MACD) line stands above the Signal line and above zero, though the spread narrows as the histogram contracts, hinting at fading upside momentum. The Relative Strength Index sits at 50.89 (neutral), consistent with a consolidative tone.

Meanwhile, the 200-period Simple Moving Average (SMA) on the 4-hour chart trends higher at $87.42. The XAG/USD, however, holds beneath it, keeping rebounds capped. The 38.2% retracement at $85.87 acts as initial resistance, and a clear break would open the 50% retracement at $92.59. Failure to clear resistance could drag theXAG/USD back toward the 23.6% retracement at $77.56. A sustained move above the 200-period SMA would be needed to improve the broader setup.

XAG/USD 4-hour chart

Chart Analysis XAG/USD

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