XAGUSD is testing support, potential for a bounce.

Price is facing bullish pressure from our pivot, which is in line with our graphical overlap support, 88.0%, 78.6% Fibonacci extension and 50% Fibonacci retracement. We see a medium probability bullish scenario above our pivot at 25.9430, with 1st resistance at 27.1078 as a possible target. Failure to hold above pivot at 25.9430 would see price swing the other way towards 1st support at 25.4900.

Pivot: 25.9430
Supporting Points:
graphical overlap support, 88.0%, 78.6% Fibonacci extension and 50% Fibonacci retracement

1st Support: 25.4900
Supporting Points:
Graphical swing low support, 78.6% Fibonacci retracement and 127.2%, 161.8% Fibonacci extension

1st Resistance: 27.1078
Supporting Points:
graphical swing high resistance
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