USD/PHP may rise to 59.231 - 59.896

56.726 is our pivot point.

Our preference

The upside prevails as long as 56.726 is support.

Alternative scenario

Below 56.726, expect 55.614 and 54.952.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 56.905 and 56.512).

Supports and resistances

61.227 **

60.562 *

59.896 **

59.231

57.842 last

57.163

56.726 **

55.614 *

54.952 **

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