XAG/USD Technical Analysis: Silver Consolidates Inside Major Descending Parallel Channel

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Source: Dukascopy Bank SA
XAG/USD is in a well-defined descending parallel channel that has controlled price action since early 2026, characterized by a series of lower highs and lower lows. The structural validity of this corrective framework is confirmed by four distinct rejections (highlighted by the gray circles) at both the upper and lower boundaries, with the most recent test occurring in early June at the channel floor. Currently, the price is consolidating around the 68.406 pivot level, leaving the asset caught between immediate channel resistance near 72.000–74.000 and critical structural support in the 60.000–62.000 zone.



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