Published: 2025-01-09T04:11:48.000Z
Chart USD/IDR Updates: Scope to retest 16259, 16304 highs
Technical Analyst
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Choppy trade within a 3-week range area turning higher from the 16059 low and see scope to retest the 16259 and 16304 highs
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16400 | * | congestion | S1 | 16124 | * | 7 Jan low | |
| R3 | 16330 | * | 30 Jul high | S2 | 16059 | ** | 31 Dec low | |
| R2 | 16304 | ** | Dec high | S3 | 16000 | * | congestion | |
| R1 | 16259 | * | 2 Jan high | S4 | 15969 | ** | 4 Dec high |
Asterisk denotes strength of level
04:05 GMT - Choppy trade within a 3-week range area turning higher from the 16059 low and see scope to retest the 16259 and 16304 highs. Break here will extend gains from the September low and see room to the 16330 resistance. Clearance here will return focus to the 16400 congestion then the 16474, June 2024 year high. Meanwhile, support at the 16124 and 16059 higher lows underpin and sustain strong run-up from the September low. Only break of these will weaken and see room for deeper retracement from the December high.