XAG/USD struggles to regain the $75.00 area
WikiBit 2026-02-06 18:26
Silver (XAG/USD) is trimming some losses during Friday’s early European session, trading right above $74.00 at the time of writing, after hitting fresh
XAG/USD is picking up from lows, with the technical picture showing a bearish scenario. The 50-period Simple Moving Average (SMA), which acted as a dynamic support during the bullish cycle, extends its decline, with the pair holding beneath it. The Moving Average Convergence Divergence (MACD) line has slipped back below the zero line, and the Relative Strength Index (RSI) remains below 50, indicating weak traction.
Silver‘s recovery found resistance at the $75.00 area, which is holding bulls for now. Further up, the pair might find resistance at an intraday level around $81.00. Key resistance is at Wednesday’s high in the area of $92.00.
Immediate support is at the daily low of $64.08, below that level, the $60.00 round level, and early December lows, in the $56.00 area, might come into focus
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