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

Today last price 14138.5
Today Daily Change -5.0000
Today Daily Change % -0.04%
Today daily open 14143.5
Daily SMA20 14156.6825
Daily SMA50 14162.525
Daily SMA100 14151.185
Daily SMA200 14167.4175
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



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

Latest Forex News

Editors’ Picks

EUR/USD falls amid Sino-American tensions ahead of Non-Farm Payrolls

EUR/USD is trading around 1.1850, down amid a risk-off mood stemming from President Trump's move against China's TikTok and WeChat. Tension is mounting ahead of the highly uncertain Non-Farm Payrolls.


Gold consolidates near record highs, flat-lined around $2060 area ahead of NFP

Concerns about escalating US-China tensions pushed gold to fresh record highs on Friday. A goodish pickup in the USD prompted some profit-taking amid overbought conditions. 

Gold News

GBP/USD retreats amid doubts about the furlough scheme, dollar strength

GBP/USD is struggling around 1.31 as UK Chancellor Rishi Sunak said the furlough scheme that is underpinning the economy cannot last forever. The dollar is gaining ground amid geopolitical tensions ahead of the Non-Farm Payrolls.


Forex Today: Dollar ticks up after Trump's TikTok move, all eyes on Non-Farm Payrolls

Trump's executive order against TikTok and WeChat has dampened the market mood and strengthened the dollar. Fiscal stimulus have made limited progress and investors are now focused on July NFP, which carries high uncertainty amid the resurgence of coronavirus. 

Read more

WTI struggles to keep $42.00 amid risk-off in Asia

WTI extends the previous day’s losses from $42.79, recently bounces off the intraday low. US-China and Washington-Ottawa tussles join dimming hopes of US stimulus to weigh on the risk-tone.

Oil News