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.

Anil Panchal FXStreet

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

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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