Silver(XAGUSD) seeks support
Silver(XAGUSD) plunged as the metal market, in general, awaits the next move with Ukrainian negotiations ongoing. Metal was struggling to sustain momentum as prices crashed through the 32.00 level. The lengthy downturn was a sign of indecision, and a fall below 31.80 prompted bulls to exit. The round number of 31.00 is following to see if buying interest would show. Should the trend reverse, a bounce could lead price action back towards 32.80 by the end of this week.
EURUSD aiming higher
The Euro continues to keep its edge over the dollar as prices hit another higher hit. The pair is testing the current psychological resistance of 1.0500 after another push higher. A bounce away from the support at 1.0450 was already a sign of weakness, with the dollar struggling to hold on. 1.0530 is the next level to see whether buyers have remained in the market, with the previous support at 1.0450 looking to hold firm.
GER 40 consolidates gains
The Dax steadies as investors await further signals from the ECB on its next rate cut. Sentiment saw a boost after a bounce away from the 22200 floor. The rally has tempered its pace after the RSI moved back into the neutral zone as 22400 became the first support, and a bounce would carry the bullishness back towards 22900. A bearish breakout, however, would force leverage positions out and send the price back to test 22200 and then 21650.