USD/IDR technical analysis: Under pressure below multi-day long falling trendline

USD/IDR keeps it below the two-month-old resistance line.
Another falling trend line since late-September acts as nearby key support.

Anil Panchal FXStreet

Despite clearing 61.8% Fibonacci retracement of August-September downpour, USD/IDR fails to cross key resistance while taking rounds to 14,177 amid Asian session on Thursday.

Should prices stay beneath 61.8% Fibonacci retracement level of 14,180, 14,100 and a short-term falling support line at 14,070 seems to entertain sellers.

In a case where bears dominate below 14,070, the 14,000 round-figure can offer intermediate halt to pair’s slump targeting 13,880.

Meanwhile, an upside clearance above 14,245 resistance-line will trigger a fresh rise towards 14,280 and 14,350 numbers to the north.

USD/IDR 4-hour chart

Trend: bearish

additional important levels

Overview
Today last price	14177
Today Daily Change	-2.0000
Today Daily Change %	-0.01%
Today daily open	14179

Trends
Daily SMA20	14155.0825
Daily SMA50	14163.024
Daily SMA100	14153.84
Daily SMA200	14167.0503

Levels
Previous Daily High	14220
Previous Daily Low	14141.5
Previous Weekly High	14268
Previous Weekly Low	14086.5
Previous Monthly High	14276.5
Previous Monthly Low	13883
Daily Fibonacci 38.2%	14190.013
Daily Fibonacci 61.8%	14171.487
Daily Pivot Point S1	14140.3333
Daily Pivot Point S2	14101.6667
Daily Pivot Point S3	14061.8333
Daily Pivot Point R1	14218.8333
Daily Pivot Point R2	14258.6667
Daily Pivot Point R3	14297.3333

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 climbs to two-week highs beyond 1.1900

EUR/USD is keeping its foot on the gas at the start of the week, reclaiming the 1.1900 barrier and above on Monday. The US Dollar remains on the back foot, with traders reluctant to step in ahead of Wednesday’s key January jobs report, allowing the pair to extend its upward grind for now.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold treads water around $5,000

Gold is trading in an inconclusive fashion around the key $5,000 mark on Monday week. Support is coming from fresh signs of further buying from the PBoC, while expectations that the Fed could turn more dovish, alongside concerns over its independence, keep the demand for the precious metal running.

Crypto Today: Bitcoin steadies around $70,000, Ethereum and XRP remain under pressure

Bitcoin hovers around $70,000, up near 15% from last week's low of $60,000 despite low retail demand. Ethereum delicately holds $2,000 support as weak technicals weigh amid declining futures Open Interest. XRP seeks support above $1.40 after facing rejection at $1.54 during the previous week's sharp rebound.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.