Despite multiple tests, XAGUSD has failed to overcome the resistance zone around 59.21. Rallies into this area are quickly met with selling pressure, indicating that "smart money" favors distribution over pushing prices higher. The repeated rejection of price at this level also reflects a cautious sentiment among buyers.

From a fundamental perspective, the outlook for silver remains under pressure as the US dollar holds firm, driven by expectations that the Federal Reserve will maintain high interest rates for an extended period. Elevated US bond yields further diminish the appeal of non-yielding precious metals like silver.

I anticipate that if the 59.21 level holds and further signs of weakness emerge, XAGUSD will likely retreat to test the 57.50 zone. Should selling pressure intensify and this support level break, the next target would be 56.88, a level where fresh buying interest might appear. For now, the appropriate strategy is to prioritize selling opportunities in line with the trend, rather than anticipating a bullish breakout in the absence of confirming signals.