XAGUSD | Technical Outlook
Market Structure
XAGUSD extended its strong bullish trend, remaining well bid above the 113.00 area after printing fresh highs earlier in the move. However, the rally was mainly supported by a weaker US Dollar and ongoing geopolitical tensions. Apart from this, investors stayed vigilant ahead of the Federal Reserve’s interest rate decision. Therefore, more investors turned to precious metals as a safe haven amid global uncertainty.
Technically, the broader structure remains bullish (H4/D1), but intraday price action (M15/H1) is shifting into a corrective phase after failing to hold near the recent peak zone, with price now consolidating around ~113.0 and testing short-term moving averages.
Key Resistance Zone
The nearest supply sits at 114.40 – 115.50, aligned with the recent distribution band and the area where price started rolling over. Any rebound into this zone is likely to attract sellers first.
Additional resistance levels:
- 116.50 – 117.60 (recent swing-high / impulsive peak zone)
- 115.90 (upper extension area before the last rejection)
As long as price remains below 115.50, upside attempts are vulnerable to selling pressure.
Key Support Zone
Immediate support sits at 112.20 – 113.00, where price is currently trying to stabilize and where buyers have repeatedly stepped in intraday.
If this floor breaks, downside opens toward:
- 111.20
- 110.10 – 109.00 (deeper pullback zone / prior demand)
A clean loss below 109.00 would signal a broader corrective leg within the larger uptrend.
Expectations
Bearish Scenario (Primary – Short-Term Correction)
Momentum on the lower timeframes favors a pullback while price trades below 115.50.
If 112.20 – 113.00 breaks, expect continuation toward 111.20, with room to extend into 110.10 – 109.00.
Bullish Scenario (Alternative – Trend Continuation)
If price holds 112.20 – 113.00 and reclaims 114.40 – 115.50, the trend can re-extend toward:
- 116.50
- 117.60 (major upside objective / prior peak)
A sustained reclaim above 115.50 would be the first strong signal that buyers are regaining full control.
Outlook
Silver remains structurally bullish on higher timeframes, but the current sequence suggests a healthy corrective phase after the recent run-up. The market stays constructive above 112.20 – 113.00, while a break below this support would likely deepen the pullback toward 111.20 and 110.10 – 109.00 before the next attempt higher.
