USD/IDR Technical Analysis: 50% Fibonacci questions run-up to 200-DMA


  • USD/IDR pulls back from the six-week high.
  • Sustained trading beyond multi-month-old falling trend line, 100-DMA portrays the pair’s strength.

With its failure to extend the previous run-up to late-October tops, USD/IDR witnessing profit booking towards 14,120 while heading into the European session on Tuesday.

The pair struggles around 50% Fibonacci retracement of July-August upside while it’s successful rise beyond 100-day Simple Moving Average (DMA) and a four-month-old falling trend line favors the buyers.

Also increasing the odds for the pair’s further increase is the bullish histogram of the 12-bar Moving Average Convergence and Divergence (MACD) indicator.

As a result, buyers will keep eyes on 200-DMA level near 14,160 as far as the quote stays above the multi-month old support line, at 14,080.

While October month high surrounding 14,215 could entertain buyers past-200-DMA, 61.8% Fibonacci retracement near 14,070 and 14,000 might lure sellers during the fall below 14,080.

USD/IDR daily chart

Trend: Bullish

additional important levels

Overview
Today last price 14119.3
Today Daily Change 5.8000
Today Daily Change % 0.04%
Today daily open 14113.5
 
Trends
Daily SMA20 14081.465
Daily SMA50 14102.312
Daily SMA100 14116.742
Daily SMA200 14166.457
 
Levels
Previous Daily High 14181.2945
Previous Daily Low 14075.5475
Previous Weekly High 14296.292
Previous Weekly Low 13896.3
Previous Monthly High 14296.292
Previous Monthly Low 13896.3
Daily Fibonacci 38.2% 14140.8991
Daily Fibonacci 61.8% 14115.9429
Daily Pivot Point S1 14065.6002
Daily Pivot Point S2 14017.7003
Daily Pivot Point S3 13959.8532
Daily Pivot Point R1 14171.3472
Daily Pivot Point R2 14229.1943
Daily Pivot Point R3 14277.0942

 

 

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