Silver Price Analysis: XAG/USD extends pullback from 200-DMA to break $21.00

Silver price snaps two-day winning streak, renews intraday low of late.
Clear U-turn from 200-DMA, bearish MACD signals hint at XAG/USD’s further downside.
Three-week-old descending resistance line, horizontal area from the last December also challenge Silver buyers.
Six-month-long upward-sloping trend line can restrict XAG/USD downside amid nearly oversold RSI (14).

Anil Panchal FXStreet

Silver price (XAG/USD) takes offers to refresh intraday low near $20.90 as it prints the first daily loss in three during early Thursday. In doing so, the bright metal reverses from the 200-DMA amid the bearish MACD signals.

While a pullback from the key moving average and downbeat oscillator hints keep the XAG/USD sellers hopeful, the nearly oversold RSI (14) conditions suggest the quote has limited downside room.

As a result, an ascending support line from early September 2022, around $20.45, becomes crucial to watch for the Silver traders.

It should be noted that the lows marked during early November 2022, as well as on Wednesday, highlight $20.40 as an extra filter towards the south. Additionally, the $20.00 could act as the last defense of the XAG/USD buyers.

Hence, the Silver price is likely to extend the latest downturn but the room towards the south appears limited.

That said, the metal’s recovery moves past the 200-DMA hurdle of $21.00 isn’t an open invitation to the Silver buyers as a downward-sloping resistance line from February 08, close to $21.70 at the latest, could challenge the quote’s further advances.

Above all, the XAG/USD remains on the bear’s radar unless crossing a three-month-old horizontal resistance area surrounding $22.55-60.

Silver price: Daily chart

Trend: Limited downside expected

Additional important levels

Overview
Today last price	20.94
Today Daily Change	-0.04
Today Daily Change %	-0.19%
Today daily open	20.98

Trends
Daily SMA20	21.76
Daily SMA50	22.97
Daily SMA100	22.07
Daily SMA200	20.99

Levels
Previous Daily High	21.18
Previous Daily Low	20.84
Previous Weekly High	21.98
Previous Weekly Low	20.74
Previous Monthly High	24.64
Previous Monthly Low	20.42
Daily Fibonacci 38.2%	21.05
Daily Fibonacci 61.8%	20.97
Daily Pivot Point S1	20.82
Daily Pivot Point S2	20.65
Daily Pivot Point S3	20.47
Daily Pivot Point R1	21.16
Daily Pivot Point R2	21.35
Daily Pivot Point R3	21.51

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

AUD/USD seems vulnerable near 0.6800, 10-month low amid bullish USD

AUD/USD languishes near a 10-month low during the Asian session on Friday, awaiting a break below 0.6800 before the next leg up amid a bullish US Dollar. Firming Fed rate-hike expectations, along with fading hopes for US-Iran diplomacy, help the USD hold gains at its highest level since April 2025. Moreover, the RBA’s dovish tilt undermines the Aussie and backs the case for further losses.

USD/JPY bulls turn cautious near 160.00 amid intervention risks

USD/JPY enters a bullish consolidation phase around its highest level since early September as bulls turn cautious amid intervention risk near 160.00. Meanwhile, the downside seems cushioned as the wide US-Japan interest rate gap keeps the Yen carry trade active. Furthermore, the possibility of a jumbo Fed rate hike and Middle East uncertainties hold the US Dollar near a 19-month top, supporting the currency pair.

Gold remains on the back foot below $3,900

Gold now alternates gains with losses below the $3,900 mark per troy ounce on Friday. The precious metal struggles to regain traction amid the firmer US Dollar, mixed US Treasury yields and expectations of further tightening by the Fed at its December meeting.

Bitcoin just posted five straight losing weeks, and the storm may not be over yet

Bitcoin is struggling to find support, slipping below $70,000 as multiple headwinds threaten to push the Crypto King lower. The much-anticipated “Uptober” rally failed to materialize, with persistent selling pressure and widespread liquidations instead reinforcing the “Rektober” narrative.

Week ahead – Fed Minutes, inflation data and Nvidia earnings to guide investors

Fed minutes may add to hawkish tone as bets of 50-bps hike grow. Nvidia to report earnings as bar to impress high after spy scandal. Trade and geopolitics to be focal point of Trump-Xi summit.

Gold hit its lowest level of 2026 near $3,850

Gold (XAU/USD) attempts to stabilize around $3,890 on Friday after falling to $3,852 on Thursday, its lowest level since October 2025. The precious metal has lost more than 4% this week, as investors increasingly anticipate further monetary tightening from the Federal Reserve (Fed). The latest decline reflects a sharp change in market expectations.