Chart USD/PHP Updates: Consolidating, room for higher later
Limited on break above the 61.750 May high as prices settled back in consolidation from fresh historic high at 61.840
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 62.800 | projection | S1 | 61.500 | congestion | |||
| R3 | 62.000 | * | figure | S2 | 61.200 | * | 27 May low | |
| R2 | 61.840 | ** | 1 Jun all-time high | S3 | 60.800 | ** | Mar high | |
| R1 | 61.750 | * | May high | S4 | 60.250 | ** | May low |
Asterisk denotes strength of level
04:00 GMT - Limited on break above the 61.750 May high as prices settled back in consolidation from fresh historic high at 61.840. However, pressure remains on the upside with bullish ascending triangle suggesting room for further gains ahead. Higher will see extension of the bull trend from the May 2025 year low to target the 62.000 figure. However, overbought daily and weekly studies caution corrective pullback with support raised to 61.500 congestion and extending to 61.200, 27 May low. Would take break here to open up room for deeper correction to strong support at 60.800 March high and 60.250, May low.