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.

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

Today last price 14035
Today Daily Change 18.0000
Today Daily Change % 0.13%
Today daily open 14017
Daily SMA20 14095.91
Daily SMA50 14117.175
Daily SMA100 14128.6905
Daily SMA200 14161.389
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



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