FX_IDC:USDPHP   U.S. Dollar / Philippine peso
USDPHP - 18Apr2022

On the weekly, USDPHP is well above 61.8% Fib retracement at 51.79. We could expect it to bounce further to 78.6% Fib resistance at 52.95 soon.

On the H4, price is consolidating just below the 1st Resistance at 52.25. With the rebound of strength in DXY , USDPHP could very well break above this level to 2nd Resistance at 52.58 next week.

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