USD/IDR Price News: Indonesian rupiah bulls aim for six-week-old rising trendline

USD/IDR extends the week-start pullback from 14,958.70.
Bearish MACD, failures to bounce keep sellers hopeful.
200-bar SMA adds to the downside support, bulls will have to cross 15,000 to regain confidence.

Anil Panchal FXStreet

USD/IDR drops 0.80 to 14,593 ahead of the European session on Thursday. The pair defies the previous day’s bounce off 14,558 while flashing a second negative day so far in the week.

Considering the bearish MACD and Monday’s U-turn from 14,958, sellers are attacking an upward sloping trend line from June 09, a break of which could push them towards 14,385 level comprising 200-day SMA.

Though, pair’s fall past-14,385 will aim for 14,000 threshold before highlighting the June month bottom surrounding 13,850.

Should buyers step-in from the support line, they will have to cross 15,000 round-figures prior to targeting May month’s peak around 15,470. However, an intermediate pullback to the weekly top of 14,958 can’t be ruled out.

USD/IDR four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	14591.05
Today Daily Change	-118.9500
Today Daily Change %	-0.81%
Today daily open	14710

Trends
Daily SMA20	14522.8765
Daily SMA50	14449.7331
Daily SMA100	14956.3619
Daily SMA200	14439.8242

Levels
Previous Daily High	14757.5
Previous Daily Low	14558.8
Previous Weekly High	14904.7
Previous Weekly Low	14354
Previous Monthly High	14646.556
Previous Monthly Low	13853.0195
Daily Fibonacci 38.2%	14681.5966
Daily Fibonacci 61.8%	14634.7034
Daily Pivot Point S1	14593.3667
Daily Pivot Point S2	14476.7333
Daily Pivot Point S3	14394.6667
Daily Pivot Point R1	14792.0667
Daily Pivot Point R2	14874.1333
Daily Pivot Point R3	14990.7667

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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