Silver holds in positive territory, eyes 20-day EMA
|- Silver bulls looking to higher highs for sessions ahead.
- US data is on the cards for the week ahead, CPI especially.
Correcting from the latest daily bearish impulse, the price of silver finished the New York session on the bid and enters the Tokyo session higher by 0.23%.
XAG/USD rose overnight from a low of $25.87 to a high of $26.28 from which bulls will be seeking to break en route to the 20-day EMA near $26.34.
Meanwhile, as a potential stumbling block, the US Dollar Index (DXY), which measures the greenback against a basket of six currencies, climbed to a high of 92.420 from a low of 92.0830. Bulls will be targetting the 3-month high of 92.844 touched last week.
The main focus this week, considering that Fed members agreed in June that they should be poised to act if inflation or other risks materialized, will be on US inflation data on Tuesday and Federal Reserve Chair Jerome Powell's economic testimony on Wednesday and Thursday.
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