USD/IDR technical analysis: Choppy inside short-term trading range


  • USD/IDR seesaws near 50% Fibonacci retracement of mid-July to the early-August run-up.
  • Prices remain in the range between 14,360 and 14,150 despite the sustained break of 4H 200MA.

A successful break of 4H 200MA doesn’t much favor the USD/IDR pair as it trades inside a short-term trading range while taking rounds to 14,235 on early Monday.

38.2% Fibonacci retracement level of 14,320 can offer immediate resistance whereas the pair’s further upside will be capped by range-top close to 14,360.

61.8% Fibonacci retracement level near 14,150 works as range support, a break of which will again highlight 200-bar moving average on the four-hour chart (4H 200MA) surrounding 14,110.

While 14,443 and 14,583 can please buyers during the upside break, 14,070 and 14,000 will be on the sellers’ radar if the quote slips below 14,110.

USD/IDR 4-hour chart

Trend: Sideways

    1. R3 14475.43 
    2. R2 14414.72 
    3. R1 14318.88 
  1. PP 14258.17 
    1. S1 14162.33 
    2. S2 14101.62 
    3. S3 14005.78

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD struggling to hold onto 1.10 as USD gains ground

EUR/USD is trading close to 1.10, as the US dollar gradually advances. Two White House advisers expressed contradicting accounts of US-Sino trade talks, causing confusion. Germany refrained from adding fiscal stimulus.

EUR/USD News

GBP/USD trades around 1.25 as EU pours cold water on Brexit hopes

GBP/USD is trading around 1.25, off the two-month highs of 1.2582 as EU officials cast doubts about the seriousness of the new UK proposals on Brexit. 

GBP/USD News

USD/JPY drops to one-week lows on trade war headlines

The USD/JPY fell during the American session following reports that the Montana Farm Bureau said China's delegation has canceled a planned trip to view US agriculture.

USD/JPY News

Gold climbs further beyond $1500 mark, lacks follow-through

Gold edged higher for the second consecutive session on Friday, albeit remained well within a familiar trading range held over the past two weeks or so.

Gold News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Ethereum points to the Moon as Bitcoin takes a break

ETH/USD exceeds $220 and is bidding to lead the market. Bitcoin sets a bear trap and recaptures $10,000. XRP stalls between technical levels and fails to consolidate $0.30.

Read more

Forex MAJORS

Cryptocurrencies

Signatures