Published: 2025-02-19T03:28:17.000Z
Chart USD/IDR Updates: Extending corrective bounce
Technical Analyst
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Consolidation above the 16200 level has given way to break higher to extend bounce from the 16169 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16474 | ** | Jun 2024 year high | S1 | 16269 | * | 6 Feb low | |
| R3 | 16470 | ** | 3 Feb YTD high | S2 | 16169 | ** | 17 Feb low | |
| R2 | 16384 | ** | Jan high | S3 | 16149 | * | 24 Jan low | |
| R1 | 16350 | 13 Feb low | S4 | 16059 | * | 31 Dec low |
Asterisk denotes strength of level
03:20 GMT - Consolidation above the 16200 level has given way to break higher to extend bounce from the 16169 low. Break above the 16269 resistance and the 16304 high of December open up room for stronger gains to the 16384/16400 area. This is expected to cap and lower high sought to further pressure the downside later. Meanwhile, support remains at the 16200/16169 area and break here will open up room for deeper pullback to retrace strong gains from the September low. Lower will see room to support at the 16149 and 16059 higher lows.