XAG/USD bounce from 2020 lows halted near $14.00/oz

  • XAG/USD is bouncing up from 2020 lows as the Federal Reserve launched its largest stimulus package ever, last week.
  • The level to beat for buyers is the 15.00 resistance.

 

Silver daily chart

 

Following the sharp selloff to 2009 lows, silver bounced as the Fed announced unlimited Quantitative Easing (QE) to fight the coronavirus crisis.  

  

Silver four-hour chart 

 

XAG/USD is consolidating the bounce of the last few days, trading just above the 14.00 support level and the 50 SMA on the four-hour chart. Buyers want an extension up above the 15.00 figure en route to the 15.50 and 16.60 level on the way up while support can emerge near the 14.00 level.

 

 

Resistance: 15.00, 15.50, 16.60

Support: 14.00, 13.50, 13.00

 

 

Additional key levels