USD/PHP may rise to 59.426 - 59.800

Our pivot point stands at 58.068.

Our preference

The upside prevails as long as 58.068 is support.

Alternative scenario

Below 58.068, expect 57.443 and 57.070.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 58.447 and 58.535).

Supports and resistances

60.546 **

60.173 *

59.800 **

59.426

58.630 last

58.314

58.068 **

57.443 *

57.070 **

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