USD/IDR technical analysis: 23.6% Fibo. challenges recent pullback

  • 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
Daily SMA20 14169.03
Daily SMA50 14130.886
Daily SMA100 14206.2745
Daily SMA200 14205.8335
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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