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Bears Need Close Below 55-DMA......>

DOLLAR-PHP TECHS
DOLLAR-PHP TECHS: Bears Need Close Below 55-DMA
*RES 4: Php52.560 - Low July 18 2006 now resistance 
*RES 3: Php52.552 - 2018 High Mar 23 
*RES 2: Php52.241 - High Apr 2 
*RES 1: Php52.000 - Low Apr 2 now resistance
*PRICE: Php51.911 @ 2300GMT
*SUP 1: Php51.853 - Low Mar 16 
*SUP 2: Php51.810 - 55-DMA 
*SUP 3: Php51.639 - Low Feb 23 
*SUP 4: Php51.400 - Low Feb 9
*COMMENTARY: Hesitation following recent 2018 & 12 year highs is less than ideal
for bulls and has resulted in a correction back towards the 55-DMA. Bears now
need a close below the 55-DMA to shift initial focus back to Php51.400. Bulls
now look for a close above Php52.00 to gain breathing room and above Php52.560
to confirm focus on Php52.850-933 where July 2006 monthly highs are located.

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