USD/IDR technical analysis: Immediate upside restricted around 14,032/40 amid bearish MACD

USD/IDR confronts 50-bar SMA, 61.8% Fibonacci retracement amid bearish MACD signal.
The short-term symmetrical triangle limits the pair’s moves.

Anil Panchal FXStreet

Despite bouncing off during the post-Indonesia inflation release, on Friday, USD/IDR fails to clear the key resistance confluence while taking rounds to 14,035 on early Monday.

Prices need to clear 14,032/40 area including 50-bar Simple Moving Average (SMA) and 61.8% Fibonacci retracement of September-October upside to extend the latest pullback towards 14,080, comprising 50% Fibonacci retracement.

Though, pair’s further advances will be challenged by a descending trend line since October 16, at 14,120, if not then 14,200 and 14,230 will be the key to watch.

Alternatively, pair’s immediate declines are confined by an upward sloping support line since October 24, at 13,996 now, if not then 13,970 and 13,880 should be on sellers’ radar.

Considering bearish signal from 12-bar Moving Average Convergence and Divergence (MACD), prices could find hard to extend the recent recovery.

USD/IDR 4-hour chart

Trend: sideways

additional important levels

Overview
Today last price	14035
Today Daily Change	18.0000
Today Daily Change %	0.13%
Today daily open	14017

Trends
Daily SMA20	14095.91
Daily SMA50	14117.175
Daily SMA100	14128.6905
Daily SMA200	14161.389

Levels
Previous Daily High	14127.5
Previous Daily Low	14006
Previous Weekly High	14127.5
Previous Weekly Low	13989
Previous Monthly High	14273.8
Previous Monthly Low	13971.3
Daily Fibonacci 38.2%	14052.413
Daily Fibonacci 61.8%	14081.087
Daily Pivot Point S1	13972.8333
Daily Pivot Point S2	13928.6667
Daily Pivot Point S3	13851.3333
Daily Pivot Point R1	14094.3333
Daily Pivot Point R2	14171.6667
Daily Pivot Point R3	14215.8333

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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