Silver Breaks Below 200-Day SMA, Targets YTD Low
Silver extended its weekly decline, breaking below the 200-day moving average and falling towards its year-to-date low.
XAGUSD
Silver (XAG/USD) has fallen below the $65.00 level, extending its week-long losing streak to more than 6%. The white metal is currently trading nearly 2.50% lower on the day.
The decline accelerated after prices broke below the 200-day Simple Moving Average (SMA), a key technical support level. With the breakdown, traders are now eyeing the year-to-date (YTD) low as the next potential downside target.
Source: FXStreet Forex News