USD/IDR Price Analysis: Indonesian rupiah sellers confront key downside barriers near weekly low

USD/IDR extends recovery from 14,058.45 to confront 21-day SMA.
A descending trend line from May 07 adds to the upside barriers.
Sellers will wait for fresh weekly low to aim for June 09 bottom.

Anil Panchal FXStreet

USD/IDR prints 0.53% gains while taking the bids near 14,253 during the pre-European session on Thursday. The pair pierces immediate SMA resistance while staying below a seven-week-old falling trend line. However, its gradual pullback since June 09 gains support from bullish MACD signals to keep the buyers hopeful.

As a result, the quote is likely to attack the short-term key resistance line, at 14,310 now, during the further upside. Though, a clear break above 14,310 will escalate the rise towards the monthly top close to 14,645/50.

If at all the USD/IDR prices remain strong beyond 14,650, a 50-day SMA level of 14,743 could gain the market’s attention.

Meanwhile, an upward sloping trend line from June 09, adjacent to 14,075/70, offers immediate support to the pair, a break of which could challenge the monthly low near 13,853. It’s worth mentioning that the 14,000 threshold could offer additional stop during the fall between said trend line and the monthly trough.

USD/IDR daily chart

Trend: Pullback expected

1. R3 14475.18
2. R2 14367.87
3. R1 14273.08
PP 14165.77
1. S1 14070.98
2. S2 13963.67
3. S3 13868.88

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.