XAGUSD H1 has confirmed a bullish wedge breakout after breaking the descending trendline and reclaiming 61.00. Price is holding above the broken trendline, showing bullish momentum is building after repeated rejection from the 59.50–60.00 support zone. The move clears the path to 63.00 first resistance and 64.20 second resistance. A sustained break below 59.40 invalidates the immediate bullish outlook.
Price has regained the Ichimoku cloud zone near 61.00, adding support to the bullish breakout. A clean hold above the cloud strengthens the H1 recovery structure.
- 1st Resistance - 63.00
- 2nd Resistance - 64.20
- Support Zone - 59.50–60.00
Fundamentally, softer U.S. labor data has reduced rate pressure on the Greenback, causing the dollar and Treasury yields to pull back on October 6.
Disclaimer: This analysis is for educational purposes only and not financial advice.
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