XAGUSD maintains a clear bullish structure, with the price continuing to trade within an ascending channel and holding above both the EMA34 and EMA89. The pullback from the recent high has held above the 63.00 level, indicating that selling pressure is insufficient to break the trend.

The 63.00 level is the area I am monitoring most closely. If the price holds this zone and a clear buying response emerges, XAGUSD could soon regain momentum and target 65.70, corresponding to the upper boundary of the ascending channel.

On the macro front, recent weak US labor data continues to weigh on the USD and yields, creating a more favorable environment for silver. Therefore, as long as the bullish structure remains intact, I favor looking for buying opportunities during pullbacks rather than trading against the trend.