Silver Price Analysis: XAG/USD rebound needs validation from $18.60 previous support

Silver Price remains sidelined after bouncing off two-year low.
Oversold RSI favors buyers but $19.10 appears a tough nut to crack.
Support line of the short-term falling wedge restricts the immediate downside.

Anil Panchal FXStreet

Silver Price (XAG/USD) struggles to extend corrective pullback from the lowest level since July 2020, taking rounds to $18.45 during Friday’s initial Asian session.

In doing so, the bright metal keeps the previous day’s rebound from a one-month-old falling wedge’s support line amid oversold RSI (14).

However, the support-turned-resistance trend line from May 13, around $18.60 by the press time, probes the XAG/USD buyers.

Also acting as the key hurdle is the convergence of the stated bullish chart pattern falling wedge’s upper line and the 10-DMA, near $19.10.

Should silver rises past $19.10, it can rally towards a downward sloping resistance line from April, close to $20.30.

Meanwhile, silver’s fresh declines may aim to retest the aforementioned wedge’s bottom, surrounding $18.00 by the press time.

Following that, lows marked during June 2020, around $16.95, will gain the market’s attention.

Overall, silver bears appear to have run out of steam but the buyers need validation to retake control.

Silver: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	18.45
Today Daily Change	-0.77
Today Daily Change %	-4.01%
Today daily open	19.22

Trends
Daily SMA20	20.37
Daily SMA50	21.21
Daily SMA100	22.99
Daily SMA200	23.16

Levels
Previous Daily High	19.41
Previous Daily Low	18.86
Previous Weekly High	20.2
Previous Weekly Low	18.92
Previous Monthly High	22.52
Previous Monthly Low	20.22
Daily Fibonacci 38.2%	19.2
Daily Fibonacci 61.8%	19.07
Daily Pivot Point S1	18.92
Daily Pivot Point S2	18.61
Daily Pivot Point S3	18.37
Daily Pivot Point R1	19.46
Daily Pivot Point R2	19.71
Daily Pivot Point R3	20.01

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.