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\n Share:<\/span><\/p>\n Silver Price (XAG\/USD) remains pressured at the lowest level in seven weeks despite making rounds to $22.50 during the early Asian session on Wednesday. In doing so, the bright metal fades the previous day\u2019s corrective bounce off the key support zone amid the market\u2019s broad risk-off mood and the firmer US Dollar and the Federal Reserve (Fed) monetary policy<\/a> meeting minutes.<\/p>\n It\u2019s worth noting that China-inflicted market pessimism joins the firmer US data to underpin the US Dollar\u2019s run-up and weigh on the XAG\/USD ahead of this week\u2019s top-tier catalyst.<\/p>\n Technically, the 100-SMA stays beneath the 200-SMA and portrays the \u201cBear Cross\u201d, which in turn suggests further downside of the Silver Price. Also keeping the XAG\/USD sellers hopeful is the commodity\u2019s sustained trading below a three-week-long descending resistance line.<\/p>\n However, a horizontal area comprising multiple levels marked since June 23, close to $22.10\u201330, puts a floor under the XAG\/USD price amid a nearly oversold RSI (14) line.<\/p>\n In a case where the Silver Price breaks the $22.10 support, it becomes vulnerable to testing the early March swing high of around $21.30 with the $22.00 threshold likely acting as an intermediate halt.<\/p>\n On the flip side, a clear break of the immediate resistance line, close to $22.85 at the latest, will direct the XAG\/USD toward the 100-SMA hurdle of around $23.65. Though, the 200-SMA level of near $23.80 acts as the final defense of the Silver<\/a> sellers.<\/p>\n\n
Silver Price: Four-hour chart<\/h2>\n