USD/PHP may rise to 59.632 - 60.033

58.092 is our pivot point.

Our preference

As long as 58.092 is support look for 60.033.

Alternative scenario

Below 58.092, expect 57.421 and 57.021.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 58.715 and 58.192).

Supports and resistances

60.835 **

60.434 *

60.033 **

59.632

58.790 last

58.356

58.092 **

57.421 *

57.021 **

Number of asterisks represents the strength of support and resistance levels.