USD/IDR Technical Analysis: Three-year-old rising trendline in focus


  • USD/IDR seesaws around 61.8% Fibonacci retracement of 2016/18 upside.
  • Bearish MACD, failure to carry the previous month’s recovery indicate further declines.

USD/IDR remains under pressure while trading around 13,870 during the pre-European session on Tuesday. The pair recently slipped beneath 61.8% Fibonacci retracement of longer-term upside and hence a monthly close will be closely observed for further direction.

On a monthly close below 61.8% Fibonacci retracement of 13,860, the pair could aim for the three-year-old ascending support line, at 13,600.

If at all bearish histogram of MACD drags the quote well below 13,600, May 2017 high near 13,490 will be in the spotlight.

Alternatively, bulls will refrain from entry unless breaking a 14-month long descending trend line, at 14,250 now.

However, a sustained break of 14,250 will propel prices to yearly top nearing 14,720.

USD/IDR monthly chart

Trend: Bearish

Additional important levels

Overview
Today last price 13883
Today Daily Change -34.5000
Today Daily Change % -0.25%
Today daily open 13917.5
 
Trends
Daily SMA20 13981.1711
Daily SMA50 14031.7154
Daily SMA100 14093.8172
Daily SMA200 14146.1941
 
Levels
Previous Daily High 13957.8
Previous Daily Low 13877
Previous Weekly High 14020.7355
Previous Weekly Low 13676.9335
Previous Monthly High 14296.292
Previous Monthly Low 13896.3
Daily Fibonacci 38.2% 13907.8656
Daily Fibonacci 61.8% 13926.9344
Daily Pivot Point S1 13877.0667
Daily Pivot Point S2 13836.6333
Daily Pivot Point S3 13796.2667
Daily Pivot Point R1 13957.8667
Daily Pivot Point R2 13998.2333
Daily Pivot Point R3 14038.6667

 

 

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