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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Bears Need Close Below Php51.090...>
DOLLAR-PHP TECHS: Bears Need Close Below Php51.090
*RES 4: Php52.560 - Low July 18 2006 now resistance
*RES 3: Php52.085 - Monthly Low July 10 2006 now resistance
*RES 2: Php51.700 - High Aug 3 2006
*RES 1: Php51.600 - High Aug 24 2006, 2017 High Aug 16
*PRICE: Php51.350 @ 2300GMT
*SUP 1: Php51.090 - Alternating daily support/resistance
*SUP 2: Php50.900 - Lows Aug 11 & 14
*SUP 3: Php50.840 - High July 25 now support
*SUP 4: Php50.680 - High Aug 9 now support, 21-DMA
*COMMENTARY: The lack of follow through on Wednesdays 2017 and 11 year highs is
less than ideal for bulls given the move looking a little overbought and daily
studies approaching O/B levels. The Php51.090 support remains key with bears
looking for a close below to ease bullish pressure and shift focus back to the
21-DMA. Bulls now need a close above Php51.700 to confirm focus on Php52.085-560
last seen in July 2006.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.