Silver Down After Facing Fed Decision Pressure
Silver (XAG/USD) prices fell during the European session on Thursday (3/20). The non-interest-bearing metal faced pressure after the Federal Reserve (Fed) interest rate decision.
As widely expected, the Fed kept the federal funds rate at 4.25%–4.5% during its March meeting but reiterated its outlook for two rate cuts later this year.
RECOMMENDATION
- Buy if price moves to $33,533
- Sell if price moves to $32,933
Resistance Level 2: $34,133
Resistance Level 1: $33,833
Support Level 1: $32,633
Support Level 2: $32,333
Note:
This article is only an analysis and not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id