For the 24 hours to 23:00 GMT, Silver declined 1.2% against the USD and closed at USD16.92 per ounce, tracking losses in gold prices.
In the Asian session, at GMT0400, the pair is trading at 16.94, with silver trading 0.09% higher against the USD from yesterday’s close.
The pair is expected to find support at 16.78, and a fall through could take it to the next support level of 16.63. The pair is expected to find its first resistance at 17.14, and a rise through could take it to the next resistance level of 17.34.
The white metal is trading below its 20 Hr and 50 Hr moving averages.