USD/IDR technical analysis: 23.6% Fibo, 4-month-old rising trendline lure sellers


  • USD/IDR pulls back from 21-day EMA.
  • Gradually declining, but away from oversold conditions, RSI favors further weakness towards the key supports.

With its failure to rise past-21-day EMA, USD/IDR declines to 14,020 by the press time ahead of the European session on Monday.

The quote now seems to revisit 23.6% Fibonacci retracement of December 2018 to June 2019 declines, at 13,975, a break of which will shift market attention to an upward sloping trend line since June, at 13,950.

Should prices keep trading southwards below 13,950, September month low near 13,880 will be the key to watch.

Also supporting the downside is gradually declining, but not oversold, conditions of 14-bar Relative Strength Index.

Alternatively, pair’s successful rise above 21-day Exponential Moving Average (EMA) level of 14,100 can push buyers to target 50% Fibonacci retracement level close to 14,230 whereas monthly top surrounding 14,275 could entertain bulls afterward.

USD/IDR daily chart

Trend: bearish

additional important levels

Overview
Today last price 14019.35
Today Daily Change -5.6500
Today Daily Change % -0.04%
Today daily open 14025
 
Trends
Daily SMA20 14129.9775
Daily SMA50 14138.423
Daily SMA100 14141.385
Daily SMA200 14164.264
 
Levels
Previous Daily High 14093.5
Previous Daily Low 14022
Previous Weekly High 14182
Previous Weekly Low 13971.3
Previous Monthly High 14276.5
Previous Monthly Low 13883
Daily Fibonacci 38.2% 14049.313
Daily Fibonacci 61.8% 14066.187
Daily Pivot Point S1 14000.1667
Daily Pivot Point S2 13975.3333
Daily Pivot Point S3 13928.6667
Daily Pivot Point R1 14071.6667
Daily Pivot Point R2 14118.3333
Daily Pivot Point R3 14143.1667

 

 

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