- USD/IDR bounces off July lows but remains below 23.6% Fibonacci retracement.
- 21-day EMA, 38.2% Fibonacci retracement confluences becomes short-term key resistance.
Even after bouncing off July month bottom, the USD/IDR pair fails to successfully cross 23.6% Fibonacci retracement of April-June downpour as it trades near 13,920 during the Asian session on Friday.
While oversold conditions of 14-day relative strength index (RSI) questions that pair’s further declines below July month low surrounding 13,880, an extended south-run might not hesitate to visit yearly bottom surrounding 13,750.
On the upside, pair’s sustained rise beyond 23.6% Fibonacci retracement level around 13,980 offers immediate resistance, a break of which can propel prices to Tuesday’s low near 14,070.
However, 21-day exponential moving average (EMA) and 38.2% Fibonacci retracement, at 14,110/15, could restrict pair’s advances past-14,070, if not then a run-up towards monthly top surrounding 14,275 can’t be denied.
USD/IDR daily chart
Trend: pullback expected
additional important levels
|Today last price||13920.5|
|Today Daily Change||6.0000|
|Today Daily Change %||0.04%|
|Today daily open||13914.5|
|Previous Daily High||14112.4|
|Previous Daily Low||13883|
|Previous Weekly High||14276.5|
|Previous Weekly Low||14030.05|
|Previous Monthly High||14582.9|
|Previous Monthly Low||14075|
|Daily Fibonacci 38.2%||13970.6308|
|Daily Fibonacci 61.8%||14024.7692|
|Daily Pivot Point S1||13827.5333|
|Daily Pivot Point S2||13740.5667|
|Daily Pivot Point S3||13598.1333|
|Daily Pivot Point R1||14056.9333|
|Daily Pivot Point R2||14199.3667|
|Daily Pivot Point R3||14286.3333|
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