USD/IDR Technical Analysis: Buyers may aim for 21-day SMA, monthly resistance trendline

USD/IDR benefits from the overall strength of the US dollar.
Likely inversion of MACD lines indicates further recovery.
The weekly lows hold the key to pair’s drop below 13,700.

Anil Panchal FXStreet

USD/IDR takes the bids to 13,928 by the press time of the pre-European session on Friday. The pair recently surged amid the broad US dollar (USD) strength after investors rushed to risk-safety on US-Iran tensions.

Read: CFR's Haas: Prepare for all sorts of Iranian retaliation

This leads to a bullish MACD formation on the daily chart and an expected confrontation to a 21-day SMA level of 13,955. However, pair’s further advances are likely to be capped by the monthly falling trend line, at 13,965.

If at all prices rally beyond 13,965, December 11 top near 14,100 and 200-day SMA near 14,140 will be on the Bull’s radar.

On the contrary, a daily closing below the weekly low of 13,835 will set the tone for fresh downside targeting sub-13,700 area.

USD/IDR daily chart

Trend: Bearish

Additional important levels

Overview
Today last price	13926.8
Today Daily Change	40.8000
Today Daily Change %	0.29%
Today daily open	13886

Trends
Daily SMA20	13955.7162
Daily SMA50	14023.6859
Daily SMA100	14083.035
Daily SMA200	14140.9242

Levels
Previous Daily High	13908.5
Previous Daily Low	13836.3815
Previous Weekly High	14020.7355
Previous Weekly Low	13676.9335
Previous Monthly High	14181.2945
Previous Monthly Low	13676.9335
Daily Fibonacci 38.2%	13863.9308
Daily Fibonacci 61.8%	13880.9507
Daily Pivot Point S1	13845.421
Daily Pivot Point S2	13804.842
Daily Pivot Point S3	13773.3025
Daily Pivot Point R1	13917.5395
Daily Pivot Point R2	13949.079
Daily Pivot Point R3	13989.658

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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