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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD rebounds after dismal US PMIs

EUR/USD is trading closer to 1.0850, rising in response to weak US PMIs, with the services one pointing to contraction. Earlier, German Manufacturing PMI beat estimates. 

EUR/USD News

GBP/USD advances to 1.2950 after US data

GBP/USD is trading around 1.2950, taking advantage of US weakness stemming from a downfall in Markit's Services PMI in the US. In Britain, the Manufacturing PMI exceeded estimates. 

GBP/USD News

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Consolidation process underway

The Crypto board continues to be immersed in an emotional leg-breaking, consistently punishing the emotional state of the traders with its continuous changes of direction.

Read more

XAU/USD unstoppable, breaks to fresh 2020 highs, approaching $1650/oz

XAU/USD is trading in an uptrend above its main daily simple moving averages (SMAs) while breaking above a bull channel. Gold is printing fresh 2020 highs hitting $1646.64 per ounce on an intraday basis.  

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex MAJORS

Cryptocurrencies

Signatures