Published: 2025-01-16T03:10:43.000Z
Chart USD/IDR Updates: Extending gains
Technical Analyst
2
Bullish break of the 16304 resistance extends the broader gains from the September low and see the 16400 level within reach
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16625 | ** | Mar 2020 multi-year high | S1 | 16300 | * | congestion | |
| R3 | 16560 | * | 6 Apr 2020 high | S2 | 16200 | * | congestion | |
| R2 | 16474 | ** | Jun 2024 year high | S3 | 16124 | * | 7 Jan low | |
| R1 | 16400 | * | congestion | S4 | 16059 | ** | 31 Dec low |
Asterisk denotes strength of level
03:10 GMT - Bullish break of the 16304 resistance extends the broader gains from the September low and see the 16400 level within reach. Clearance here will see potential for retest of the 16474, June 2024 year high, where reaction can be expected as daily and weekly studies push deep into overbought areas. Meanwhile, support is raised to the 16300 congestion which should underpin and sustain gains from the 16124 and 16059 higher lows. Only break of these will fade the upside pressure and see room for deeper retracement of gains from the September low.