Silver Price Analysis: 21-DMA defends XAG/USD bulls above $24.00 despite US rating news inflicted pullback – by anilpanchal7 Silver XAGUSD Technical Analysis Commodities SwingTrading Silver
AUD/USD stays defensive around 0.6615-20 while licking the wounds at the lowest level in a month amid early Wednesday in the Asia-Pacific zone. The Aussie pair struggles to cheer the US Dollar’s retreat from a multi-day high while keeping the Reserve Bank of Australia inflicted fears intact. USD/JPY drifts lower on Wednesday and snaps a three-day winning streak to a three-week top. Fitch downgrade of the US rating weighs on the USD and benefits the JPY's safe-haven status.
Gold begins Wednesday’s Asian session on a front foot, bouncing off the lowest levels in a week, as well as from the 200-SMA key support, as it justifies the United States government’s rate cut by the rating giant Fitch Ratings. The yellow metal pares the previous day’s heavy losses with mild gains to around $1,950. Lido DAO price has been on a downtrend since mid-July and is potentially going to continue down that path.
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