USD/IDR Price News: Indonesian rupiah struggles for direction near two-week low

USD/IDR recovers from two-week low amid oversold RSI conditions.
Sustained trading below 50-day SMA, the monthly resistance line keeps bears hopeful.
100-day SMA adds to the support below the month’s low.

Anil Panchal FXStreet

USD/IDR bounces off a two-week low of 14,863 ahead of the European session on Monday. Even so, short-term falling trendline, as well as a sustained trading below 50-day SMA and monthly resistance line, keeps sellers hopeful.

Though, oversold RSI conditions favor the pair’s pullback moves, which in turn push buyers for fresh entries on the break of 14,885 immediate resistance line.

However, a confluence of 61.8% Fibonacci retracement of March month upside and a falling trend line from April 13, around 15,070/75, could keep the pair’s further recoveries under check.

If at all USD/IDR prices rise beyond 15,075, 50% Fibonacci retracement and 50-day SMA, respectively near 15,370 and 15,500, will lure the bulls.

On the contrary, the pair’s further downside could take rests on the monthly low of 14,678, as well as 100-day SMA level of 14,648, ahead of looking towards the early-March top near 14,420.

USD/IDR daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	14865
Today Daily Change	5.0000
Today Daily Change %	0.03%
Today daily open	14860

Trends
Daily SMA20	15210.9775
Daily SMA50	15501.6498
Daily SMA100	14656.9236
Daily SMA200	14378.6344

Levels
Previous Daily High	14911
Previous Daily Low	14860
Previous Weekly High	14978
Previous Weekly Low	14860
Previous Monthly High	16575
Previous Monthly Low	14880
Daily Fibonacci 38.2%	14879.482
Daily Fibonacci 61.8%	14891.518
Daily Pivot Point S1	14843
Daily Pivot Point S2	14826
Daily Pivot Point S3	14792
Daily Pivot Point R1	14894
Daily Pivot Point R2	14928
Daily Pivot Point R3	14945

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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