USD/IDR technical analysis: Struggles between 200-DMA and 61.8% Fibo.

Key technical indicators restrict USD/IDR moves.
Sustained trading beyond a long-term DMA, normal RSI favor the buyers.

Anil Panchal FXStreet

USD/IDR registers another bounce off 200-day simple moving average (DMA) as it trades near 14,315 during Thursday’s Asian session.

The pair has been choppy between 200-DMA and 61.8% Fibonacci retracement of April-June declines off-late. Though, a sustained trading above key DMA favors USD/IDR buyers targeting another run-up to 61.8% Fibonacci retracement near 14,350.

Should prices manage to clear 14,350, June 17 high around 14,420 and monthly top surrounding 14,580 will be up on bulls’ radars.

On the downside break below 200-DMA level of 14,224 can quickly fetch prices to 38.2% Fibonacci retracement level around 14,120 whereas a 10-week-old rising trend-line at 14,043 will limit pair’s further declines.

In a case where USD/IDR slips beneath 14,043, 14,000 round-figure and July 19 low near 13,884 will be bears’ favorites.

USD/IDR daily chart

Trend: sideways

Additional important levels

Overview
Today last price	14315.25
Today Daily Change	76.0000
Today Daily Change %	0.53%
Today daily open	14239.25

Trends
Daily SMA20	14252.3475
Daily SMA50	14138.978
Daily SMA100	14205.51
Daily SMA200	14225.1595

Levels
Previous Daily High	14347.8
Previous Daily Low	14228.25
Previous Weekly High	14341.3
Previous Weekly Low	14115.95
Previous Monthly High	14240
Previous Monthly Low	13884
Daily Fibonacci 38.2%	14273.9181
Daily Fibonacci 61.8%	14302.1319
Daily Pivot Point S1	14195.7333
Daily Pivot Point S2	14152.2167
Daily Pivot Point S3	14076.1833
Daily Pivot Point R1	14315.2833
Daily Pivot Point R2	14391.3167
Daily Pivot Point R3	14434.8333

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.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.