USD/PHP may rise to 59.654 - 60.095

Our pivot point stands at 58.118.

Our preference

As long as 58.118 is support look for 60.095.

Alternative scenario

The downside breakout of 58.118 would call for 57.376 and 56.935.

Comment

The RSI is above its neutrality area at 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 58.692 and 58.063).

Supports and resistances

60.979 **

60.537 *

60.095 **

59.654

58.760 last

58.409

58.118 **

57.376 *

56.935 **

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