Silver Price Daily Forecast – Silver Gets Strong Support Near 20 EMA

Silver made an attempt to settle below the 20 EMA at $24.00 while the U.S. dollar found itself under pressure against a broad basket of currencies.

The U.S. Dollar Index has recently made an attempt to settle above the nearest resistance at the 91 level but failed to develop upside momentum. At the same time, the U.S. Dollar Index continues to get support near 90.80.

If the U.S. Dollar Index declines below this level, it will have a good chance to develop downside momentum and move towards yearly lows at 90.50 which will be bullish for silver and gold price today.