Published: 2025-08-22T06:37:24.000Z
Chart USD/PHP Updates: Consolidating above 57.000, room for pullback
Technical Analyst
-
Turned up from the 56.580 low as prices consolidate losses from the 58.550 high of 1st August
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 57.750 | * | congestion, 4 Aug high | S1 | 56.750 | * | congestion | |
| R3 | 57.630 | * | Jun high | S2 | 56.500 | * | congestion | |
| R2 | 57.500 | * | congestion | S3 | 56.160 | ** | Jul low | |
| R1 | 57.340 | * | 20 Aug high | S4 | 55.850 | ** | congestion |
Asterisk denotes strength of level
06:30 GMT - Turned up from the 56.580 low as prices consolidate losses from the 58.550 high of 1st August. Consolidation is expected to give way to renewed selling pressure later to retest support at the 56.750 congestion and 56.580 low. Below this will further extend losses from the 58.550 high to retrace rally from May current year low at 55.140 and see room to 56.500 then 56.160 low of July. Meanwhile, resistance is at the 57.340 bounce high which is expected to cap and sustain losses from 58.550 high.