With another Fed meeting and no rate hike to report, all eyes shifted to the mess that is Greece. The metal had another reasonable week as the dollar added to its losses following lower than expected consumer price inflation numbers from the US. The USD index dropped to a one-month low of 93.57 on Thursday, weakening more than 0.5% on the day. The dollar has fallen 1.6% so far this week adding to the more than 2% loss over the previous two weeks. A stronger US dollar usually weighs on silver, as it diminishes the metal’s appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies. Since the beginning of this Year, the commodity has been in a trading range with the high at 18.46 and the low at 15.27, being pushed down by the 50-week moving average. Last week silver tried to rally but found enough selling pressure at the 10-week moving average, giving back most of its gains and closed near the open of the week. The Stochastic is showing bearish momentum and is below the 50 mid line. Expecting an upward move to a key level at 17.39 on a break above previous week high at 16.45 (scenario 1).