Published: 2025-03-05T05:50:57.000Z
Chart USD/PHP Updates: Extending the December losses
Technical Analyst
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Sharply lower to extend break of the 57.710 support to extend the broader losses from the 59.170, December high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 58.180 | * | congestion | S1 | 57.320 | * | 50% Sep/Dec rally | |
| R3 | 58.000 | * | congestion | S2 | 57.270 | * | congestion | |
| R2 | 57.880 | * | 5 Feb low | S3 | 57.140 | * | Sep 2023 year high | |
| R1 | 57.710 | * | Dec low | S4 | 57.000 | * | congestion |
Asterisk denotes strength of level
05:50 GMT - Sharply lower to extend break of the 57.710 support to extend the broader losses from the 59.170, December high. Negative daily studies weighs and see room for deeper pullback to retrace the September/December rally to the 57.320, 50% Fibonacci level. Break here will see room to the 57.270 congestion and 57.140 support. Lower still will see extension to the 57.000 congestion. Meanwhile, resistance is lowered to the 57.710 low of December which is expected to cap and sustain losses from the 58.270 and 58.330, February lower highs.