Silver Price Analysis: XAG/USD pokes $25.00 to renew three-month top as Russia invades Ukraine

Anil Panchal FXStreet

Silver rises for the seventh consecutive day, firmer around the highest levels since January 18.

A successful break of 200-DMA, descending trend line from July 2021 adds strength to the bullish bias.

Silver (XAG/USD) refreshes three-month high, up 1.40% intraday around $95.00 as Russian military attacks Ukraine during early Thursday morning in Europe.

The bright metal tracks gold prices to print a seven-day uptrend amid bullish MACD signals.

Also favoring XAG/USD buyers is the sustained break of the 200-DMA and a downward sloping resistance from July 2021, now support.

However, the 50% Fibonacci retracement (Fibo.) of May-September 2021 declines, near $25.10, challenges intraday silver buyers.

Also acting as an upside hurdle is November 2021 high near $25.40, followed by the 61.8% Fibo. level surrounding $26.00.

Alternatively, pullback moves may have to conquer the previous resistance confluence including the multi-day-old descending trend line and the 200-DMA, around $24.30, to reject the latest bullish signals.

Even so, a two-week-long support line of $24.00 will act as an extra filter to the south.

Silver: Daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	24.92
Today Daily Change	0.34
Today Daily Change %	1.38%
Today daily open	24.58

Trends
Daily SMA20	23.28
Daily SMA50	23.14
Daily SMA100	23.34
Daily SMA200	24.22

Levels
Previous Daily High	24.58
Previous Daily Low	24.03
Previous Weekly High	24.09
Previous Weekly Low	23.08
Previous Monthly High	24.7
Previous Monthly Low	21.96
Daily Fibonacci 38.2%	24.37
Daily Fibonacci 61.8%	24.24
Daily Pivot Point S1	24.21
Daily Pivot Point S2	23.84
Daily Pivot Point S3	23.66
Daily Pivot Point R1	24.76
Daily Pivot Point R2	24.94
Daily Pivot Point R3	25.31

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 eyes 0.7150 barrier nine-day EMA

AUD/USD inches higher after registering modest losses in the previous day, trading around 0.7130 during the Asian hours. The technical analysis of the daily chart indicates that the pair is moving sideways within the rectangle pattern, suggesting a consolidation as neither the bulls nor the bears have enough momentum to take control of the market.

USD/JPY trades below 160.00 intervention threshold; bullish bias intact

The USD/JPY pair attracts some sellers during the Asian session amid fears that authorities will step in again to prop up the Japanese Yen. Furthermore, the Israel-Lebanon truce prompts some profit-taking around the US Dollar and exerts downward pressure on the currency pair.

Gold puts its 200-day SMA to the test near $4,420

Gold keeps the bullish stance in place in the latter part of Thursday’s session, although a convincing break above the key $4,500 mark per troy ounce still remains elusive. The precious metal’s advance comes amid the resurgence of some selling interest around the Greenback, improving risk sentiment, and declining US Treasury yields across the board.

Bitcoin’s massive storm is back: Why the sell-off is far from over

Bitcoin price action over the last few weeks has felt less like a normal, healthy correction and more like a slow grinding crash that continues to wreak havoc on holdings and trading accounts. And everything suggests that the dramatic crash isn’t over.

Nonfarm payrolls: Testing the limits of Fed policy patience

The upcoming nonfarm payrolls report for May will provide the final update on the US labor market before Kevin Warsh attends his first policy meeting as the new Fed Chair later this month.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.