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Bears Need Close Below Php51.090...>

DOLLAR-PHP TECHS
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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