USD/IDR technical analysis: Spinning bottom on D1 favors further recovery


  • USD/IDR takes the bids towards 61.8% Fibonacci retracement after the recent bullish candlestick formation.
  • A downside break below the multi-month-old rising trend line will please bears.

Following the bullish candlestick formation on Monday, as per the daily (D1) chart, the USD/IDR pair takes the bids to 14,042 by the press time of early Tuesday.

The quote now rises towards 61.8% Fibonacci retracement of June-August upside, at 14,065, ahead of confronting 21-day Exponential Moving Average (EMA) level of 14,090.

Buyers could cheer the break of 14,090 by challenging 50% and 38.2% Fibonacci retracements of 14,165 and 14,263 respectively,

On the contrary, the pair’s downside has been confined by the upward sloping trend line since June 18, at 13,952, a break of which could recall 13,880 and 13,750 on the chart.

USD/IDR daily chart

Trend: bullish

additional important levels

Overview
Today last price 14042.5
Today Daily Change 28.0000
Today Daily Change % 0.20%
Today daily open 14014.5
 
Trends
Daily SMA20 14121.73
Daily SMA50 14133.308
Daily SMA100 14139.03
Daily SMA200 14163.2043
 
Levels
Previous Daily High 14035
Previous Daily Low 13994
Previous Weekly High 14182
Previous Weekly Low 13971.3
Previous Monthly High 14276.5
Previous Monthly Low 13883
Daily Fibonacci 38.2% 14019.338
Daily Fibonacci 61.8% 14009.662
Daily Pivot Point S1 13994
Daily Pivot Point S2 13973.5
Daily Pivot Point S3 13953
Daily Pivot Point R1 14035
Daily Pivot Point R2 14055.5
Daily Pivot Point R3 14076

 

 

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