USD/PHP may rise to 59.620 - 60.077

Our pivot point stands at 57.997.

Our preference

As long as 57.997 is support look for 60.077.

Alternative scenario

Below 57.997, expect 57.231 and 56.774.

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 58.518 and 57.851).

Supports and resistances

60.992 **

60.534 *

60.077 **

59.620

58.612 last

58.299

57.997 **

57.231 *

56.774 **

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