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XAG/USD Hovers Above Daily Support

Silver takes a breather, as the US dollar softens across the board.

Price action is looking to gain a foothold above 25.70, which is an important support from the daily timeframe. The consolidation is a sign of indecision after a strong impetus.

The RSI divergence indicates a slowdown in the bearish momentum. A close above 26.50 would confirm buying interest and initiate a reversal. 27.80 would be the next target if the rally gains traction. Failing that, a drop below 25.70 could trigger a new round of sell-off towards 25.10.

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