USD/IDR technical analysis: Under pressure below multi-day long falling trendline
|- USD/IDR keeps it below the two-month-old resistance line.
- Another falling trend line since late-September acts as nearby key support.
Despite clearing 61.8% Fibonacci retracement of August-September downpour, USD/IDR fails to cross key resistance while taking rounds to 14,177 amid Asian session on Thursday.
Should prices stay beneath 61.8% Fibonacci retracement level of 14,180, 14,100 and a short-term falling support line at 14,070 seems to entertain sellers.
In a case where bears dominate below 14,070, the 14,000 round-figure can offer intermediate halt to pair’s slump targeting 13,880.
Meanwhile, an upside clearance above 14,245 resistance-line will trigger a fresh rise towards 14,280 and 14,350 numbers to the north.
USD/IDR 4-hour chart
Trend: bearish
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