Key Moments
- Silver (XAG/USD) trades near $64.35-$64.30, down more than 1.5% and at its weakest level since March 23.
- A breakdown below the 200-day EMA at $67.84 and a bearish double-top near $89.00 reinforce the negative technical outlook.
- Momentum indicators RSI at 31.31 and MACD at -1.28 point to persistent selling pressure, with scope for a retest of support around $61.00.
Persistent Selling Pressure Pushes XAG/USD to Multi-Month Lows
Silver (XAG/USD) extends its recent decline, attracting additional selling interest for a second straight session and falling to its lowest level since March 23 during Asian trading on Wednesday. The metal is currently changing hands in the $64.35-$64.30 band, representing a loss of more than 1.5% on the day, and remains exposed to further downside.
Bearish Pattern and 200-Day EMA Break Weigh on Outlook
Repeated failures to sustain gains near the $89.00 area have carved out a bearish double-top formation, signaling a deterioration in the technical picture. In addition, the overnight close below the 200-day Exponential Moving Average (EMA) – for the first time since April 2025 – has been interpreted as a fresh catalyst for sellers in XAG/USD and confirms a negative near-term bias.
Momentum Indicators Confirm Downtrend
The Relative Strength Index (RSI) stands at 31.31, hovering just above the traditional oversold threshold and indicating that selling interest continues to dominate, even though a brief corrective rebound cannot be ruled out. At the same time, the Moving Average Convergence Divergence (MACD) reading at -1.28 remains in negative territory, underscoring entrenched bearish momentum.
| Indicator / Level | Value / Zone | Implication |
|---|---|---|
| Current XAG/USD price | $64.35-$64.30 | Lowest since March 23 |
| Key resistance – 200-day EMA | $67.84 | Close above needed to reduce downside bias |
| Immediate support | $64.00 | Break could open the way to lower levels |
| Next support zone | $63.35-$63.30 | Target on continuation of current slide |
| March swing low | Around $61.00 | Potential downside objective in the near term |
| RSI | 31.31 | Near oversold, sellers still in control |
| MACD | -1.28 | Confirms ongoing bearish momentum |
| Chart pattern | Double top near $89.00 | Bearish technical formation |
Key Technical Levels: Supports and Resistance
Given the current configuration, a clean break below the $64.00 handle would likely expose the next support area in the $63.35-$63.30 region. If downward pressure persists, the move could stretch further and bring the March swing low near the $61.00 level back into focus over the near term.
On the upside, the 200-day EMA at $67.84 is the first important barrier. A daily close above this moving average would be required to ease the prevailing bearish tone. Absent such a shift, the existing technical backdrop suggests that the path of least resistance for XAG/USD remains tilted to the downside.
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