- USD/IDR confronts 50% Fibonacci retracement of latest upside since July 19.
- Pair’s downside capped by 61.8% Fibonacci retracement, 4H 100MA.
USD/IDR registers another bounce off the key 14,139/55 support-zone as it trades near 14,240 during early Wednesday.
The pair now clings to 50% Fibonacci retracement level and can aim for seven-day long resistance-line, at 14,350, in a case of additional rise.
If the quote manages to remain strong beyond 14,350, 23.6% Fibonacci retracement near 14,420 and month’s high close to 14,583 can lure buyers.
In a case where sellers manage to conquer 14,139, July 30 high near 14,080, followed by 14,000 round-figure, could be on their radars.
USD/IDR 4-hour chart
- R3 14472.37
- R2 14396.58
- R1 14341.57
- PP 14265.78
- S1 14210.77
- S2 14134.98
- S3 14079.97
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