USD/IDR technical analysis: Too many resistances on the road to recovery


  • Recent high, 50% Fibonacci retracement and 4H 200MA can limit the USD/IDR pair’s latest recovery ahead of confirming short-term falling wedge.
  • Formation support around 14,000 holds the key to pair’s additional weakness.

Despite recovering from 14,040, USD/IDR is far from being strong as many key resistances stand tall to challenge the pair’s recovery as it takes the rounds to 14,128 during early Friday.

The first one to grab buyers’ attention will be 14,165, followed by 50% Fibonacci retracement of May-June downpour at 14,204.

During the quote’s additional upside past-14,204, 200-bar moving average (4H 200MA) and the resistance-line of an immediate falling wedge technical pattern, around 14,212/20, can question buyers.

Alternatively, formation support close to 14,000 round-figure can limit the pair’s near-term declines below 14,040.

USD/IDR daily chart

Trend: Pullback expected

additional important levels

Overview
Today last price 14128
Today Daily Change 52.0000
Today Daily Change % 0.37%
Today daily open 14076
 
Trends
Daily SMA20 14207.555
Daily SMA50 14283.373
Daily SMA100 14213.8675
Daily SMA200 14401.8952
Levels
Previous Daily High 14165.5
Previous Daily Low 14041.7
Previous Weekly High 14199
Previous Weekly Low 14078
Previous Monthly High 14418
Previous Monthly Low 13746
Daily Fibonacci 38.2% 14161.953
Daily Fibonacci 61.8% 14183.547
Daily Pivot Point S1 14102.8333
Daily Pivot Point S2 14069.1667
Daily Pivot Point S3 14011.3333
Daily Pivot Point R1 14194.3333
Daily Pivot Point R2 14252.1667
Daily Pivot Point R3 14285.8333

 

 

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