USD/PHP may rise to 57.677 - 58.231

Our pivot point is at 55.622.

Our preference

Rebound towards 58.231.

Alternative scenario

Below 55.622, expect 54.695 and 54.144.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 56.443 and 57.488).

Supports and resistances

59.339 **

58.785 *

58.231 **

57.677

56.410 last

55.986

55.622 **

54.695 *

54.144 **

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