USD/PHP may rise 306 - 459 pips

Our pivot point is at 57.621.

Our preference

As long as 57.621 is support look for 58.304.

Alternative scenario

Below 57.621, expect 57.364 and 57.211.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 57.798 and 57.691).

Supports and resistances

58.610 **

58.457 *

58.304 **

58.151

57.845 last

57.721

57.621 **

57.364 *

57.211 **

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