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Published: 11 June 2026,06:07
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XAGUSD, H4:
Silver remains under significant selling pressure and continues to trade within a well-established long-term downtrend. The persistent sequence of lower highs and lower lows reflects the dominance of bearish sentiment, with sellers maintaining control of the market’s direction.
Recent price action has further reinforced the negative outlook. After breaking below its week-long consolidation range, silver resumed its downward trajectory and continues to trade within a descending channel. The breakdown from the range-bound structure suggests that the period of consolidation was merely a pause within the broader bearish trend rather than a signal of trend reversal.
The continuation of the downtrend channel indicates that downside momentum remains intact, and any short-term rebounds are likely to face resistance near the channel’s upper boundary. Unless buyers can reclaim key resistance levels and break above the channel structure, the prevailing bearish trend is expected to persist.
Should selling pressure continue to intensify, silver could extend its decline toward the immediate support level near $58.95. This area represents the next key downside target and may serve as an important test for the market. A decisive break below this support zone could expose the metal to even deeper losses and reinforce the broader bearish outlook.
Resistance Levels: 64.45, 71.45
Support Levels: 58.95, 54.40
AUDNZD, H4
AUD/NZD has found support at the 61.8% Fibonacci retracement level near 1.2045 following a recent pullback from its technical rebound. The successful defense of this key Fibonacci support suggests that the correction may have run its course and that the pair remains within its broader bullish structure.
The 61.8% retracement level is widely regarded as a critical technical support zone, and the pair’s ability to hold above this area indicates that buyers continue to maintain control of the market. As long as AUD/NZD remains supported above 1.2045, the prevailing bullish trajectory is expected to remain intact.
The recent retracement appears to be corrective rather than indicative of a trend reversal, with price action suggesting that the pair is consolidating before potentially resuming its upward move. A sustained hold above the Fibonacci support level would reinforce the constructive outlook and increase the likelihood of further gains.
Should bullish momentum accelerate from current levels, AUD/NZD could extend its recovery toward the next major resistance zone near 1.2135. A break above this resistance area would provide additional confirmation of the bullish trend and could pave the way for a stronger upside extension.
Resistance Levels: 1.2135, 1.2235
Support Levels: 1.2053, 1.1980
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