XAGUSD: Silver continues to weaken within a bearish channelSilverOANDA:XAGUSDEldric_Morran_XAGUSD remains within a downward-sloping price channel, characterized by a series of lower highs. The price is currently trading below both the EMA34 and EMA89, indicating weak recovery momentum and continued seller dominance. The $58.70 level acts as key resistance. Should the price attempt a recovery but face rejection at this level, selling pressure could drive silver back down to the $55.80 area, corresponding to the channel's lower boundary. Fundamentally, the US dollar is supported by expectations that the Federal Reserve will maintain a cautious stance as the market awaits US employment data. This environment continues to weigh on precious metals in the short term. A "SELL" strategy is preferred if the price weakens below $58.70, with an immediate target of $55.80.