USD/IDR technical analysis: Lacks momentum inside two-month-old triangle


  • USD/IDR continues in a choppy range inside the near-term symmetrical triangle.
  • 38.2% Fibonacci retracement level, formation support becomes the key for now.

Despite the USD/IDR pair’s recent U-turn from 50% Fibonacci retracement, it stays inside a multi-week long symmetrical triangle while taking rounds to 14,140 during early Friday.

Sellers await a clear break of 14,115, comprising pattern’s support and 38.2% Fibonacci retracement of April-June downpour, in order to aim for 14,000.

However, 13,880 might question bears during further weakness, if not then June low nearing 13,750 will be on their radar.

On the upside, 50% Fibonacci retracement level of 14,230 acts as an immediate resistance ahead of the upper line of the triangle, at 14,250.

Should prices clear 14,250, 61.8% Fibonacci retracement near 14,345, followed by 14,420 could lure buyers.

USD/IDR daily chart

Trend: sideways

additional important levels

Overview
Today last price 14138.5
Today Daily Change -5.0000
Today Daily Change % -0.04%
Today daily open 14143.5
 
Trends
Daily SMA20 14156.6825
Daily SMA50 14162.525
Daily SMA100 14151.185
Daily SMA200 14167.4175
 
Levels
Previous Daily High 14228
Previous Daily Low 14134.5
Previous Weekly High 14268
Previous Weekly Low 14086.5
Previous Monthly High 14276.5
Previous Monthly Low 13883
Daily Fibonacci 38.2% 14170.217
Daily Fibonacci 61.8% 14192.283
Daily Pivot Point S1 14109.3333
Daily Pivot Point S2 14075.1667
Daily Pivot Point S3 14015.8333
Daily Pivot Point R1 14202.8333
Daily Pivot Point R2 14262.1667
Daily Pivot Point R3 14296.3333

 

 

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