Following a strong breakout to new highs, XAGUSD is undergoing a technical correction to absorb profit-taking pressure. However, the price remains within an ascending channel, and the 59.53 level—where an FVG (Fair Value Gap) and a key support zone converge—is providing a foundation for buying interest to return.

From a macroeconomic perspective, the US dollar continues to weaken while US bond yields remain low, keeping capital flows tilted toward precious metals. This supports the short-term bullish trend for silver.

My preferred scenario is for XAGUSD to hold the 59.53 level and subsequently recover to test the 63.14 mark. As the bullish structure remains intact, current pullbacks are viewed as favorable opportunities for trend trading.