USD/PHP Forecast, Prediction and Analysis Today

During the Thursday session, we have seen the US dollar rally against the Philippine peso, as the market continues to try to get to the 59 PHP level.

In my daily analysis of exotic currency pairs, the USD/PHP market has captured my attention, as we are hanging around just above the 50 Day EMA. The 50 Day EMA of course is an indicator that a lot of people pay close attention to, so that might have caused a little bit of technical support. However, there’s also another thing that needs to be considered, and that is that the US dollar has recovered quite nicely. It’s not only against the Philippine peso that you can see this, but against pretty much anything in Asia.

The USD/PHP currency pair as one that I’m watching closely, because we have seen the US dollar plunged against the Philippine peso for some time now, but the Wednesday session seem to be more of the same downward sudden pressure.

The US dollar initially tried to rally, we have since seen this asset pull back a bit, but that makes a certain amount of sense considering that we are essentially “swimming upstream.”