USD/IDR Technical Analysis: Sellers look for entry below monthly trendline, 50-DMA


  • USD/IDR registers the third day of declines.
  • Mid-November lows will be on bear’s radar during further declines.
  • Buyers will wait unless clearing 50% Fibonacci retracement of August-September fall.

USD/IDR drops to 14,090 by the press time of early Thursday in Asia. The pair is on the third day of losing streak but stays above near-term key support confluence.

Unless providing a clear break below 14,087/85 area including a month-long rising support line and 50-Day Simple Moving Average (DMA), prices can keep the monthly upward trajectory that leads to 50% Fibonacci retracement level of 14,130.

It’s worth mentioning that 61.8% Fibonacci retracement near 14,180 and October top close to 14,215 will be the Bull’s favorite during pair’s rise past-14,130.

On the contrary, a daily closing below 14,085 could drag prices to multiple lows marked in mid-November around 14,030 ahead of shifting focus to 14,000 round-figure.

Further, the November month low near 13,965 and September bottom close to 13,910 could lure bears afterward.

USD/IDR daily chart

Trend: Pullback expected

additional imortant levels

Overview
Today last price 14094.3
Today Daily Change -0.7000
Today Daily Change % -0.00%
Today daily open 14095
 
Trends
Daily SMA20 14088.8056
Daily SMA50 14100.8462
Daily SMA100 14119.5951
Daily SMA200 14167.3586
 
Levels
Previous Daily High 14162
Previous Daily Low 14090.5
Previous Weekly High 14296.292
Previous Weekly Low 13896.3
Previous Monthly High 14296.292
Previous Monthly Low 13896.3
Daily Fibonacci 38.2% 14117.813
Daily Fibonacci 61.8% 14134.687
Daily Pivot Point S1 14069.6667
Daily Pivot Point S2 14044.3333
Daily Pivot Point S3 13998.1667
Daily Pivot Point R1 14141.1667
Daily Pivot Point R2 14187.3333
Daily Pivot Point R3 14212.6667

 

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD drops below 1.1300 for the first time in two weeks

Euro held up well on Monday despite the market’s deeply risk-off tone, with the pair finding good dip-buying interest when it hit the 1.1300 level earlier in the session and recovering to trade flat on the day in the 1.1320s.

EUR/USD News

GBP/USD extends daily slide toward 1.3450

GBP/USD continues to stretch lower toward mid-1.3400s on Monday as the mood continues to sour. Wall Street's main indexes are down between 1.7% and 2.1% after the disappointing PMI data from the US.

GBP/USD News

XAU/USD bulls moving in on the psychological $1,850

Gold is headed for a positive close on Monday following a heavily risk-off session and a run for safer havens. At the time of writing, gold is up 0.3% after climbing from a low of $1,829.76 and reaching a high of $1,844.37 so far with eyes on the psychological $1,850 level. 

Gold News

Crypto carnage continues to unfold

Bitcoin price has witnessed a massive crash over the past week, undoing the gains seen since July 25. Ethereum, Ripple and other altcoins have followed suit, experiencing an even worse crash. 

Read more

US: Markit Services PMI falls to 50.9 versus 55.0 expected

Manufacturing, Services and Composite PMI all fell to their lowest levels since 2020. There didn't seem to be much reaction at the time but the downbeat data likely won't help the market's mood improve. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures