USD/PHP may rise to 59.166 - 59.661

57.249 is our pivot point.

Our preference

The upside prevails as long as 57.249 is support.

Alternative scenario

Below 57.249, expect 56.421 and 55.928.

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 57.695 and 57.146).

Supports and resistances

60.652 **

60.157 *

59.661 **

59.166

57.945 last

57.575

57.249 **

56.421 *

55.928 **

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