Silver (XAG/USD) is hovering above $93.00, trading a short distance from the all-time highs of $93.90 hit last week, supported by strong risk-off sentiment after US President Trump announced additional tariffs on some of its key European partners.
Trump galvanized investors on Monday after announcing additional 10% tariffs on eight European Union countries, in response to their opposition to the US annexation of Greenland. This announcement prompted some euro zone leaders to call for a “firm” response in an unprecedented escalation among Western allies.
Technical Analysis: Silver is under renewed upward pressure
The 4-hour chart shows XAG/USD trading at $93.12, with technical indicators turning bullish again. The Moving Average Convergence Divergence (MACD) indicator is hovering just below the zero line, but is about to make a bullish crossover, instead. A Relative Strength Index (RSI) of 61 indicates strong momentum
Immediate resistance lies at the January 144 high at $93.90, with the 127.2% Fibonacci extension of the January 8-14 rally, at $99.25, as the next potential target. On the downside, immediate support lies at the lows of January 15-16, at $85.45, ahead of the highs of January 7 and lows of January 13, near the $83.00 area.
(The technical analysis for this story was written with the help of an artificial intelligence tool.)
US dollar price today
The table below shows the percentage change in the US Dollar (USD) against the major currencies listed today. The US dollar was the strongest against the Japanese yen.
| US dollars | euro | GBP | JPY | Canadian | Australian dollar | New Zealand dollar | Swiss franc | |
|---|---|---|---|---|---|---|---|---|
| US dollars | -0.22% | -0.20% | -0.13% | -0.19% | -0.23% | -0.45% | -0.51% | |
| euro | 0.22% | 0.02% | 0.09% | 0.03% | -0.01% | -0.24% | -0.30% | |
| GBP | 0.20% | -0.02% | 0.06% | 0.02% | -0.03% | -0.25% | -0.31% | |
| JPY | 0.13% | -0.09% | -0.06% | -0.07% | -0.11% | -0.32% | -0.39% | |
| Canadian | 0.19% | -0.03% | -0.02% | 0.07% | -0.05% | -0.26% | -0.33% | |
| Australian dollar | 0.23% | 0.01% | 0.03% | 0.11% | 0.05% | -0.22% | -0.28% | |
| New Zealand dollar | 0.45% | 0.24% | 0.25% | 0.32% | 0.26% | 0.22% | -0.07% | |
| Swiss franc | 0.51% | 0.30% | 0.31% | 0.39% | 0.33% | 0.28% | 0.07% |
The heat map shows the percentage changes in major currencies versus each other. The base currency is chosen from the left column, while the counter currency is chosen from the top row. For example, if you select USD from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
