Silver Price Analysis: XAG/USD oscillates in a range below 100-hour SMA, $25.00 mark

Silver struggles to capitalize on the overnight goodish rebound from the $24.50 support zone.
The technical setup seems tilted in favour of bulls and supports prospects for additional gains.
A convincing break below the $24.40-30 resistance-turned-support will negate the positive bias.

Haresh Menghani FXStreet

Silver edges higher on Friday, albeit struggles to capitalize on the move beyond 100-hour Simple Moving Average (SMA) and remains capped near the $25.00 psychological mark through the early European session.

From a technical perspective, the XAG/USD has been showing some resilience below the 23.6% Fibonacci retracement level of the March-April rally and finding support ahead of the $24.40-$24.30 strong horizontal resistance breakpoint. The subsequent bounce, along with positive oscillators on the daily chart, favour bullish traders and support prospects for additional gains. That said, it will still be prudent to wait for some follow-through buying beyond the $25.00 mark before placing fresh bullish bets.

The XAG/USD might then accelerate the momentum towards the $25.50-$25.60 supply zone. A sustained strength beyond will negate any near-term negative bias and allow the white metal to make a fresh attempt to conquer the $26.00 round-figure mark and retest a one-year high touched earlier this month. Some follow-through buying should pave the way for an extension of the positive momentum towards the next relevant hurdle near the $26.25-$26.30 region en route to the $27.00 round-figure mark.

On the flip side, the $24.50-$24.40 region might continue to act as immediate strong support, which if broken decisively might prompt some technical selling. The XAG/USD might then weaken further below the $24.00 mark and test the 38.2% Fibo. level, around the $23.70 area. The corrective decline could get extended further towards the $23.35-$23.30 horizontal support before the metal eventually drops to the $23.00 round-figure mark, representing the 50% Fibo. level.

Silver 1-hour chart

Key levels to watch

XAG/USD

Overview
Today last price	24.95
Today Daily Change	0.02
Today Daily Change %	0.08
Today daily open	24.93

Trends
Daily SMA20	24.97
Daily SMA50	23
Daily SMA100	23.2
Daily SMA200	21.54

Levels
Previous Daily High	25.14
Previous Daily Low	24.51
Previous Weekly High	25.6
Previous Weekly Low	24.64
Previous Monthly High	24.16
Previous Monthly Low	19.9
Daily Fibonacci 38.2%	24.9
Daily Fibonacci 61.8%	24.75
Daily Pivot Point S1	24.58
Daily Pivot Point S2	24.23
Daily Pivot Point S3	23.95
Daily Pivot Point R1	25.21
Daily Pivot Point R2	25.49
Daily Pivot Point R3	25.84

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

AUD/USD consolidates above 0.7000; remains close to monthly top

AUD/USD holds steady above 0.7000 during the Asian session on Friday, trading just below the previous day's monthly low amid diverging forces. A hawkish RBA continues to support the Aussie, while the recent decline in US bond yields keeps the US Dollar depressed near a three-week low. However, oil-driven inflation fears reinforce Fed hike bets, which, along with geopolitical risks, could benefit the safe-haven buck and cap the currency pair.

USD/JPY bounces off one-month low; climbs to 157.00 amid reviving USD demand

USD/JPY rebounds from the 156.00 neighborhood, or a one-month low touched during Friday’s Asian session, with bulls looking to extend momentum beyond 157.00 amid the emergence of some US Dollar buying. Meanwhile, Japan's National CPI rose to a nine-month peak and reaffirmed BoJ rate-hike bets, which could support the Japanese Yen and cap gains for the currency pair.

Gold treads water around $4,000

Gold prices maintain its offered stance in place at the end of the week, hovering around the key $4,000 threshold per troy ounce. The persistent selling bias in the precious metal comes amid decent gains in the US Dollar and an acceptable rebound in US Treasury yields across the curve, all alongside further upside traction in crude oil prices.

Crypto Today: Bitcoin holds the 50-day EMA as Ethereum and XRP face structural resistance

Bitcoin gradually ticks up on Friday, trading above $81,000. The Crypto King has recently defended structural support near $80,000, reinforcing the prevailing bullish outlook. Ethereum similarly edges higher above $2,400, while Ripple trades above $1.32 after testing support around $1.30.

The French bond panic is overdone. Here's what the market is misreading

France's 10-year government bond yield has climbed above 5%, reigniting fears of a sovereign debt crisis in the Eurozone. With public debt exceeding €3.5 trillion, persistent budget deficits and a fragmented political landscape, investors are increasingly questioning the French government's ability to stabilize its finances.

What November 3 means for the Fed's rate path and the US Dollar

The USD faces a decisive period ahead of the November 3 midterm elections. While markets anticipate another interest rate increase from the Fed in December, the battle for control of Congress could reshape fiscal policy expectations and, indirectly, the path of US monetary policy in 2027.