Silver (XAG/USD) experienced a pullback after reaching a peak of $51.85 during the Asian session, leading to increased selling pressure. This decline moves the currency pair further away from its weekly high, raising concerns among traders about potential resistance levels in the near term as it seeks to find stability.
Looking ahead, the 200-period Simple Moving Average (SMA) on the H4 chart may act as a crucial support level around the $50.00 mark. If XAG/USD maintains its position above this technical indicator, it could pave the way for a recovery in the exchange rate. However, failure to hold this level might prompt further declines, influencing trading strategies for investors focused on silver's market dynamics.
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Data Source: FX Killer Analysis Team Updated: 2025-11-20 02:54
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.