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BensonLouieGo168

USDPHP continues its downtrend

Short
U.S. Dollar / Philippine peso (FX_IDC:USDPHP)  
BensonLouieGo168 Updated   
FX_IDC:USDPHP   U.S. Dollar / Philippine peso
Trend Analysis Technical Indicators Fundamental Analysis USDPHP usdphpsignals
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trendanalysis indicator fundamental usdphp usdphpsignals
PHP continues to strengthen as weak demand for dollars in the country, lackluster import demand and continuing weakness in USD continues.
>Downtrend Line continues to be respected
>Trend Indicators remain weak
>Next Support level seen at 47.90 - 48.00 levels
Comment:
Onshore PHP is now nearing 48 php levels. BAPH closed the PH at around 48.045 with around a bank traded volume of almost 700million USD notional. Should it break convincingly, next target is around 47.50
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