USD/IDR technical analysis: Pullback from 100-DMA highlights near-term support-line, 23.6% Fibo.

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.

Anil Panchal FXStreet

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

Trend: Bearish

Additional important levels

Overview
Today last price	14125
Today Daily Change	-21.5000
Today Daily Change %	-0.15%
Today daily open	14146.5

Trends
Daily SMA20	14256.7275
Daily SMA50	14272.732
Daily SMA100	14205.3175
Daily SMA200	14423.5425

Levels
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

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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