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

Today last price 14094.3
Today Daily Change -0.7000
Today Daily Change % -0.00%
Today daily open 14095
Daily SMA20 14088.8056
Daily SMA50 14100.8462
Daily SMA100 14119.5951
Daily SMA200 14167.3586
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



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