Published: 2025-01-07T04:10:18.000Z
Chart USD/IDR Updates: Lower in consolidation, room to retest 16100/16059 support
Technical Analyst
-
Consolidation below the 16259 high of last week has given way to selling pressure
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16330 | * | 30 Jul high | S1 | 16100 | * | congestion | |
| R3 | 16304 | ** | 20 Dec high | S2 | 16059 | ** | 31 Dec low | |
| R2 | 16259 | * | 2 Jan high | S3 | 16000 | * | congestion | |
| R1 | 16200 | * | congestion | S4 | 15969 | ** | 4 Dec high |
Asterisk denotes strength of level
04:00 GMT - Consolidation below the 16259 high of last week has given way to selling pressure and pullback below 16200 level opening up the 16100 and 16059 low of last week to retest. Daily studies have turned mixed and suggest scope for break of these to extend pullback from the 16304, December high. Break will see deeper pullback to retrace strong gains from the September low to 16000 congestion and 15969, 4 December high. Meanwhile, resistance is lowered to 16200 congestion which is expected to cap and sustain losses from the 16259/16304, lower highs.