USD/IDR technical analysis: 21-day SMA, 38.2% Fibo. question buyers amid bearish MACD

USD/IDR fails to hold on to recovery gains amid bearish MACD.
23.6% Fibonacci retracement becomes nearby support to watch unless the pair trades below 14,143/50 resistance-zone.

Anil Panchal FXStreet

USD/IDR falls short of extending Friday’s pullback as it trades near 14,130 during the early Asian session on Monday.

With the bearish signal from 12-bar Moving Average Convergence and Divergence (MACD), the pair is likely to decline further towards 14,048/38 support area including 23.6% Fibonacci retracement of August-September downpour and September 20 low.

During the pair’s further weakness below 14,038, 14,000 and September month low nearing 13,880 could lure sellers.

Meanwhile, pair’s successful break above 14,143/50 resistance-region comprising 38.2% Fibonacci retracement and 21-day Simple Moving Average (SMA) could trigger fresh run-up to 50% Fibonacci retracement level of 14,233 whereas a falling trend line since late-August, at 14,245, might challenge bulls afterward.

USD/IDR daily chart

Trend: bearish

additional important levels

Overview
Today last price	14128
Today Daily Change	-5.0500
Today Daily Change %	-0.04%
Today daily open	14133.05

Trends
Daily SMA20	14144.6575
Daily SMA50	14171.524
Daily SMA100	14160.7795
Daily SMA200	14166.053

Levels
Previous Daily High	14212
Previous Daily Low	14101.05
Previous Weekly High	14268
Previous Weekly Low	14086.5
Previous Monthly High	14276.5
Previous Monthly Low	13883
Daily Fibonacci 38.2%	14169.6171
Daily Fibonacci 61.8%	14143.4329
Daily Pivot Point S1	14085.4
Daily Pivot Point S2	14037.75
Daily Pivot Point S3	13974.45
Daily Pivot Point R1	14196.35
Daily Pivot Point R2	14259.65
Daily Pivot Point R3	14307.3

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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