USD/IDR Price News: Indonesian rupiah buyers cheer pullback from 100-day SMA

USD/IDR stays depressed despite bouncing off 14,597.55.
Pullback in oversold RSI suggests further weakness to the key support confluence.
Bulls will have 15,000 threshold as additional upside barrier.

Anil Panchal FXStreet

USD/IDR prints 0.45% loss while trading around 14,630/35 during the pre-European session on Wednesday. In doing so, the pair extends its U-turn from 100-day SMA.

Considering the RSI’s U-turn from overbought conditions, the pair bears are currently targeting 14,455/50 support confluence including 200-day SMA and an upward sloping trend line from June 09. During the fall, 14,600 might offer intermediate support to the quote.

In a case where the sellers keep dominating past-14,450, 14,200 and 14,000 may lure the pessimists ahead of highlighting June month’s bottom close to 13,850.

Alternatively, a daily closing past-14,985, comprising 100-day SMA, will recall 15,000 mark on the chart. Though, any further upside won’t hesitate to question the May month’s peak of 15,470.

USD/IDR daily chart

Trend: Further weakness likely

Additional important levels

Overview
Today last price	14631.35
Today Daily Change	-66.4500
Today Daily Change %	-0.45%
Today daily open	14697.8

Trends
Daily SMA20	14496.2915
Daily SMA50	14453.6331
Daily SMA100	14950.0119
Daily SMA200	14436.8867

Levels
Previous Daily High	14953.3
Previous Daily Low	14681.25
Previous Weekly High	14904.7
Previous Weekly Low	14354
Previous Monthly High	14646.556
Previous Monthly Low	13853.0195
Daily Fibonacci 38.2%	14785.1731
Daily Fibonacci 61.8%	14849.3769
Daily Pivot Point S1	14601.6
Daily Pivot Point S2	14505.4
Daily Pivot Point S3	14329.55
Daily Pivot Point R1	14873.65
Daily Pivot Point R2	15049.5
Daily Pivot Point R3	15145.7

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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