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XAG/USD consolidates above $68.00; 100-SMA breakdown remains in play
- Silver is seen consolidating in a narrow range during the Asian session on Friday.
- The recent breakdown below the 100-day SMA support favors the XAG/USD bears.
- The broader technical setup also backs the case for a further depreciating move.
Silver (XAG/USD) struggles to gain any meaningful traction on Friday and oscillates in a narrow trading band just above the $68.00 mark during the Asian session. Meanwhile, the technical setup suggests that the path of least resistance for the white metal remains to the downside and backs the case for an extension of the recent downfall witnessed over the past four weeks or so, from the monthly swing high.
The recent breakdown below the 100-day Simple Moving Average (SMA) – for the first time since April 2025 – was seen as a key trigger for the XAG/USD bears. The Moving Average Convergence Divergence (MACD) indicator remains below the zero line with its latest values negative, reinforcing downside momentum despite some recent flattening. The Relative Strength Index (RSI) hovers in the mid-30s, indicating weak momentum rather than outright oversold conditions and leaving room for further downside if sellers press the move.
Hence, any meaningful recovery attempt is likely to confront immediate resistance near the 100-day SMA, around $74.70. A daily close above this area would ease bearish pressure and open the way toward the $80.00 region as the next upside hurdle. On the downside, initial support is located at the recent low near $67.80, where a break would expose the mid-$60.00 zone as the next demand area in line with the broader moving-average-supported trend.
A sustained defense of $67.80 would keep the current pullback contained, while repeated failures below the 100-day SMA would maintain the focus on lower supports.
(The technical analysis of this story was written with the help of an AI tool.)
XAG/USD daily chart
