USD/IDR technical analysis: 200-day SMA questions buyers following a month-old support-line

  • 200-day SMA challenges the upside based on near-term support-line.
  • Multiple Fibonacci retracements and a horizontal resistance might also keep prices in check.

Although a month old ascending trend-line portrays the USD/IDR pair’s strength, 200-day SMA limits the immediate upside at the quote trades near 14,450 on early Friday.

Considering the pair’s repeated failures to clear 200-day simple moving average (SMA) on a closing basis, chances of witnessing a pullback to 14,380 support-line seem brighter.

Should there be additional declines under 14,380, 14,350/40 and 14,230 are likely following numbers to appear on the chart.

In a case where prices rally beyond 200-day SMA level of 14,480, 50% Fibonacci retracement of its September 2018 to February 2019 downturn at 14,650 can please buyers ahead of challenging them with 14,720/25 resistance-area including highs marked on December 26 and April 25.

If at all the bulls keep dominating past-14,725 resistance, 61.8% Fibonacci retracement near 14,830 and mid-November highs near 14,935 could please them.

USD/IDR daily chart

Trend: Pullback expected

    1. R3 14698.67 
    2. R2 14620.83 
    3. R1 14549.67 
  1. PP 14471.83
    1. S1  14400.67 
    2. S2 14322.83
    3. S3 14251.67


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: Adds 8 pips in Asia, remains trapped in a bear flag

EUR/USD picked up a bid at 1.1084 at 00:00 GMT and rose to 1.1092 a few minutes before press time. As of writing, the currency pair is trading at 1.1089. The buyers failed to keep the pair above 1.11 for the third straight day on Wednesday.


GBP/USD: Struggles between 10/21-DMA amid bullish MACD

Despite reversing from the 21-day simple moving average (DMA), GBP/USD remains above 10-DMA as it trades near 1.2134 during Asian session on Thursday. Supporting the pair’s upside is a bullish signal by 12-bar MACD.


USD/JPY: Weaker below 106.50, focus on T-yields ahead of Powell

USD/JPY trades weaker below the 106.50 level, tracking the negative S&P 500 futures and a cautious sentiment on the Asian equities, as attention shifts from the FOMC minutes to the Fed's Powell speech for fresh direction. 


Gold: Trapped in a symmetrical triangle

Gold is trapped in a narrowing price or a symmetrical triangle pattern, according to the 4-hour chart. The yellow metal rose to a six-year high of $1,353 per Oz on Aug. 13 and has charted lower highs and higher lows ever since.

Gold News

The Fed Minutes are Out, but Does It Matter?

The FOMC July 31st Minutes were released earlier today and the collective market seems to think the minutes are less dovish than expected! Gold was volatile right before the release.

Read more