Silver holds in positive territory, eyes 20-day EMA

Silver bulls looking to higher highs for sessions ahead.
US data is on the cards for the week ahead, CPI especially.

Ross J Burland FXStreet

Correcting from the latest daily bearish impulse, the price of silver finished the New York session on the bid and enters the Tokyo session higher by 0.23%.

XAG/USD rose overnight from a low of $25.87 to a high of $26.28 from which bulls will be seeking to break en route to the 20-day EMA near $26.34.

Meanwhile, as a potential stumbling block, the US Dollar Index (DXY), which measures the greenback against a basket of six currencies, climbed to a high of 92.420 from a low of 92.0830. Bulls will be targetting the 3-month high of 92.844 touched last week.

The main focus this week, considering that Fed members agreed in June that they should be poised to act if inflation or other risks materialized, will be on US inflation data on Tuesday and Federal Reserve Chair Jerome Powell's economic testimony on Wednesday and Thursday.

XAG/USD

Overview
Today last price	26.26
Today Daily Change	0.07
Today Daily Change %	0.27
Today daily open	26.19

Trends
Daily SMA20	26.17
Daily SMA50	27.05
Daily SMA100	26.46
Daily SMA200	25.82

Levels
Previous Daily High	26.28
Previous Daily Low	25.87
Previous Weekly High	26.78
Previous Weekly Low	25.76
Previous Monthly High	28.56
Previous Monthly Low	25.52
Daily Fibonacci 38.2%	26.13
Daily Fibonacci 61.8%	26.03
Daily Pivot Point S1	25.94
Daily Pivot Point S2	25.7
Daily Pivot Point S3	25.53
Daily Pivot Point R1	26.36
Daily Pivot Point R2	26.53
Daily Pivot Point R3	26.77

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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