Chart USD/PHP Updates: Leaning lower from 62.950 all-time high
Turned down from the 92.950 all-time high and channel resistance from the May 2025 year low as daily chart unwind overbought reading
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 63.700 | projection | S1 | 62.500 | * | congestion | ||
| R3 | 63.500 | projection | S2 | 62.350 | ** | 8 Sep low | ||
| R2 | 63.000 | figure | S3 | 61.950 | ** | Jun high | ||
| R1 | 62.950 | ** | 18 Sep YTD high | S4 | 61.750 | * | May high |
Asterisk denotes strength of level
06:45 GMT - Turned down from the 92.950 all-time high and channel resistance from the May 2025 year low as daily chart unwind overbought reading. Weekly studies are stretched as well and see room for pullback to support at the 62.500/62.3500 congestion and 8 September low. Break of the latter will open up room for deeper pullback to retrace gains from the 60.600 August low and see room towards strong support at the 61.950/61.750, June and May highs. Meanwhile, resistance at the 62.950 high expected to cap. Clearance, if seen, will further extend the underlying bull trend to 63.000 level then 63.500/63.700, projection targets.