- Indonesia's Rupiah is looking north, as USD/IDR's daily chart shows range breakdown.
- A crucial moving average support could soon come into play.
The USD/IDR pair formed an inverted bearish hammer on Thursday and closed below the preceding day's low of 16,027, confirming a contracting triangle breakdown or range breakdown.
Thursday's range breakdown indicates the period of indecision has ended with victory for the USD/IDR bears.
With sellers in control, the pair risks falling to the ascending 10-day average, currently located at 15,834. At press time, the spot is trading at largely unchanged on the day at 16,000, having faced rejection at 16,267 early Friday.
A close above Thursday's high of 16,587 is needed to invalidate the bearish setup.
|Today last price||15996.5|
|Today Daily Change||14.9500|
|Today Daily Change %||0.09|
|Today daily open||15981.55|
|Previous Daily High||16587.5|
|Previous Daily Low||15925.05|
|Previous Weekly High||16495|
|Previous Weekly Low||14612.9865|
|Previous Monthly High||14435|
|Previous Monthly Low||13586.7255|
|Daily Fibonacci 38.2%||16178.1059|
|Daily Fibonacci 61.8%||16334.4441|
|Daily Pivot Point S1||15741.9|
|Daily Pivot Point S2||15502.25|
|Daily Pivot Point S3||15079.45|
|Daily Pivot Point R1||16404.35|
|Daily Pivot Point R2||16827.15|
|Daily Pivot Point R3||17066.8|
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