USD/IDR technical analysis: Sellers keep luring around 6-day old resistance-line

USD/IDR trails a week-long descending trend-line.
14,160/50 and 200-DMA become crucial downside supports.

Anil Panchal FXStreet

USD/IDR takes another turn from a six-day-old resistance-line as it declines to 14,260 during Wednesday’s Asian session.

The quote can take a halt near 50% Fibonacci retracement of July-August upside, at 14,233, ahead of visiting the key 14,160/50 support-zone including 13-day long horizontal-line and 61.8% Fibonacci retracement.

In a case prices slip below 14,150, 200-day simple moving average (DMA) at 14,118 can question sellers targeting 14,000 round-figure.

Meanwhile, pair’s successful run-up beyond 14,340 resistance-line can trigger fresh rally towards 23.6% Fibonacci retracement level of 14,418 whereas 14,443 and 14,583 could entertain buyers afterward.

USD/IDR 4-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	14260.05
Today Daily Change	1.0000
Today Daily Change %	0.01%
Today daily open	14259.05

Trends
Daily SMA20	14185.25
Daily SMA50	14145.463
Daily SMA100	14199.507
Daily SMA200	14237.003

Levels
Previous Daily High	14341.3
Previous Daily Low	14234
Previous Weekly High	14363.5
Previous Weekly Low	14155.05
Previous Monthly High	14240
Previous Monthly Low	13884
Daily Fibonacci 38.2%	14274.9886
Daily Fibonacci 61.8%	14300.3114
Daily Pivot Point S1	14214.9333
Daily Pivot Point S2	14170.8167
Daily Pivot Point S3	14107.6333
Daily Pivot Point R1	14322.2333
Daily Pivot Point R2	14385.4167
Daily Pivot Point R3	14429.5333

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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