USD/IDR technical analysis: 61.8% Fibo, 50-bar SMA challenge bearish MACD

The USD/IDR pair stays above near-term key supports despite the latest pullback.
A two-week-old rising trend-line holds the key to mid-August highs.

Anil Panchal FXStreet

Irrespective of the bearish MACD-backed retracement, USD/IDR remains above near-term key supports while trading near 14,200 amid Asian session on Thursday.

In doing so, buyers are hopeful to confront two-week-old rising trend-line, near 14,310, in order to aim for mid-August tops nearing 14,360.

Alternatively, 61.8% Fibonacci retracement of August-September declines, at 14,180, and 50-bar simple moving average (SMA) near 14,165, can keep limiting the pair’s immediate downside despite the bearish signal by 12-bar moving average convergence and divergence (MACD) indicator.

However, pair’s dip beneath 14,165 opens the gate for extended south-run to 14,000-13,995 area including 23.6% Fibonacci retracement whereas September month low close to 13,880 could please bears afterward.

USD/IDR 4-hour chart

Trend: bullish

additional important levels

Overview
Today last price	14195
Today Daily Change	-6.5000
Today Daily Change %	-0.05%
Today daily open	14201.5

Trends
Daily SMA20	14099.465
Daily SMA50	14162.334
Daily SMA100	14181.6885
Daily SMA200	14175.5068

Levels
Previous Daily High	14270.9
Previous Daily Low	14182.5
Previous Weekly High	14245.5
Previous Weekly Low	14052
Previous Monthly High	14276.5
Previous Monthly Low	13883
Daily Fibonacci 38.2%	14216.2688
Daily Fibonacci 61.8%	14237.1312
Daily Pivot Point S1	14165.7
Daily Pivot Point S2	14129.9
Daily Pivot Point S3	14077.3
Daily Pivot Point R1	14254.1
Daily Pivot Point R2	14306.7
Daily Pivot Point R3	14342.5

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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