USD/IDR technical analysis: 100/200-DMA confluence again at test with bullish MACD

USD/IDR stays below key moving averages despite bullish MACD.
A pullback can revisit 23.6% Fibonacci retracement while an upside break may challenge 14,340/50 supply-zone.

Anil Panchal FXStreet

Following its positive closing on the previous-day, mainly based on the Bank Indonesia’s (BI) rate cut, USD/IDR trades near 14,100 during the Asian session on Friday.

Bullish signal by 12-day moving average convergence and divergence (MACD) indicator paves the way for the pair’s another confrontation to the 14,190/200 area including the 100-day and 200-day simple moving averages (DMA).

Should the pair manages to cross the key upside barrier, its rally towards 14,340/50 region comprising multiple highs marked in late-August and 61.8% Fibonacci retracement of April-June decline will be challenged.

Meanwhile, 14,040 and 23.6% Fibonacci retracement around 13,970 could entertain sellers during the pullback ahead of challenging them with a horizontal-line around 13,880.

USD/IDR daily chart

Trend: sideways

additional important levels

Overview
Today last price	14106.95
Today Daily Change	-4.5500
Today Daily Change %	-0.03%
Today daily open	14111.5

Trends
Daily SMA20	14126.03
Daily SMA50	14126.015
Daily SMA100	14199.249
Daily SMA200	14193.4902

Levels
Previous Daily High	14141.5
Previous Daily Low	14038
Previous Weekly High	14112.4
Previous Weekly Low	13883
Previous Monthly High	14582.9
Previous Monthly Low	14075
Daily Fibonacci 38.2%	14101.963
Daily Fibonacci 61.8%	14077.537
Daily Pivot Point S1	14052.5
Daily Pivot Point S2	13993.5
Daily Pivot Point S3	13949
Daily Pivot Point R1	14156
Daily Pivot Point R2	14200.5
Daily Pivot Point R3	14259.5

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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