USD/IDR Price Analysis: Indonesia's Rupiah eyes gains on range breakdown

  • 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 path of least resistance for the Indonesian Rupiah (IDR) is to the higher side. 

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. 

USD/IDR had charted back-to-back inside day candlestick patterns on Tuesday and Wednesday, signaling contraction of the trading range or indecision in the market place. 

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. 

Daily chart

Trend: Bearish

Technical levels


Today last price 15996.5
Today Daily Change 14.9500
Today Daily Change % 0.09
Today daily open 15981.55
Daily SMA20 14995.69
Daily SMA50 14239.322
Daily SMA100 14107.7435
Daily SMA200 14114.0542
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



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

AUD/USD keeps gains above 0.6100 on Australian Trade data

Having regained 0.6100 on a jump in the weekly Australian Consumer COnfidence data, AUD/USD consolidates the spike to 0.6120 after the country's Trade and Job Ads data failed to inspire the bulls. US dollar trades broadly flat amid a better market mood. RBA in focus.


USD/JPY: Mildly bid above 109 amid mixed sentiment

Having benefited from the recovery in virus data from global hot-spot, while marking a three-day winning streak on Monday, USD/JPY buyers seem to catch a breath around 109.25 amid the early Asian session on Tuesday.


Gold: Refreshes four-week high, $1,685 on bulls’ radar

Gold prices remain on the front foot while taking the bids near $1,668, up 0.70%, amid the Asian session on Tuesday. In doing so, the bullion refreshes the four-week high with an intraday peak of $1,674.15 while also marking a fifth consecutive daily gain.

Gold News

WTI snaps three-day winning streak

WTI oil fell by over 8% on Monday, ending a three-day winning streak, which saw prices rise from $19.94 to $29.11. The black gold fell as Saudi Arabia and Russia's decision to delay an emergency meeting to discuss output cuts shifted focus back to oversupply concerns.

Oil News

Johnson Hospitalised, Oil Awaits Treatment

Sterling slipped after UK Prime Minister Boris Johnson was moved to the intensive care unit for coronavirus treatment, but the broad risk trade remained strong on optimism with slowing growth in the number of Corona virus cases. 

Read more