Published: 2025-01-03T03:33:48.000Z
Chart USD/IDR Updates: Extending gains, room to retest 16304 high
Technical Analyst
2
Extending bounce from the 16059 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16400 | * | congestion | S1 | 16100 | * | congestion | |
| R3 | 16330 | * | 30 Jul high | S2 | 16059 | * | 31 Dec low | |
| R2 | 16304 | * | 20 Dec high | S3 | 16000 | * | congestion | |
| R1 | 16254 | * | 27 Dec high | S4 | 15969 | ** | 4 Dec high |
Asterisk denotes strength of level
03:30 GMT - Extending bounce from the 16059 low and regaining the 16200 level has seen gains to retest the 16254 resistance. Positive daily studies suggest scope for break here to open up strong resistance at 16304 to retest. Break here will extend gains from the September 2024 year low and see room to the 16330 resistance. Meanwhile, support at the 16100/16059 area should now underpin. Only break here will return focus to the downside and see room for deeper pullback to strong support at the 16000 level and 15969/15952, previous highs.