USD/IDR Price Analysis: Pierces two-week-old falling trendline

USD/IDR recovers from the lowest since February 2018.
The year-start low, 200-bar SMA on the bull’s radar.
Sellers need to conquer the weekly support line for the fresh ruling.

Anil Panchal FXStreet

USD/IDR rises to 13,665 ahead of the European session on Tuesday. In doing so, the pair crosses a fortnight-old descending trend line.

As a result, buyers can expect the recovery towards the mid-month top near 13,730. Though, January 01 low around 13,835 and 200-bar SMA, at 13,895, can challenge buyers afterward.

Given the bull's ability to dominate the moves past-13,895, odds supporting the pair’s rise beyond the monthly high near 14,025 can’t be denied.

Alternatively, an immediate descending trend line around 13,605 can limit the pair’s declines during the pullback below previous resistance line, now support, nearing 13,650.

USD/IDR four hour chart

Trend: Recovery expected

additional important levels

Overview
Today last price	13664.8
Today Daily Change	34.8000
Today Daily Change %	0.26%
Today daily open	13630

Trends
Daily SMA20	13818.6137
Daily SMA50	13959.8169
Daily SMA100	14026.785
Daily SMA200	14117.4092

Levels
Previous Daily High	13670.5
Previous Daily Low	13618
Previous Weekly High	13769.2215
Previous Weekly Low	13614.5
Previous Monthly High	14181.2945
Previous Monthly Low	13676.9335
Daily Fibonacci 38.2%	13638.055
Daily Fibonacci 61.8%	13650.445
Daily Pivot Point S1	13608.5
Daily Pivot Point S2	13587
Daily Pivot Point S3	13556
Daily Pivot Point R1	13661
Daily Pivot Point R2	13692
Daily Pivot Point R3	13713.5

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.

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