- 100-DMA limits USD/IDR upside off-late while a 20-week old ascending trend-line confines the quote’s declines.
- 23.6% Fibonacci retracement of current year movement adds support to the downside.
Having registered another failure to cross 100-day moving average (100-DMA), USD/IDR drops back to 14,125 during early Wednesday in Asia.
An upward sloping trend-line since February start near 14,090 grabs the market attention for now, a break of which could open the door for the pair’s extended downpour to 23.6% Fibonacci retracement level of 13,976.
Should prices keep declining past-13,976, February month low near 13,860 becomes sellers’ favorite.
Meanwhile, pair’s ability to cross the 100-DMA level of 14,209 still needs to successfully trade beyond 50% Fibonacci retracement of 14,236 in order to justify strength to target 61.8% Fibonacci retracement level of 14,351.
In a case, buyers refrain from respecting 14,351 resistance, 200-DMA level of 14,416 will regain market attention.
USD/IDR daily chart
Additional important levels
|Today last price||14125|
|Today Daily Change||-21.5000|
|Today Daily Change %||-0.15%|
|Today daily open||14146.5|
|Previous Daily High||14183|
|Previous Daily Low||14128.1|
|Previous Weekly High||14418|
|Previous Weekly Low||13746|
|Previous Monthly High||14661.5|
|Previous Monthly Low||14179|
|Daily Fibonacci 38.2%||14149.0718|
|Daily Fibonacci 61.8%||14162.0282|
|Daily Pivot Point S1||14122.0667|
|Daily Pivot Point S2||14097.6333|
|Daily Pivot Point S3||14067.1667|
|Daily Pivot Point R1||14176.9667|
|Daily Pivot Point R2||14207.4333|
|Daily Pivot Point R3||14231.8667|
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