Published: 2023-12-11T05:49:49.000Z
Chart USD/IDR Updates: Sharp bounce to extend the November gains
Technical Analyst
-
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 15721/24 | * | 13 Nov high, 3 Nov low | S1 | 15510 | * | 6 Nov low | |
| R3 | 15683 | 13 Oct low | S2 | 15428 | 4 Dec low | |||
| R2 | 15644 | 4 Oct high | S3 | 15360/58 | * | 29 Nov low, Aug high | ||
| R1 | 15618 | * | 23 Nov high | S4 | 15218 | * | Jul high |
Asterisk denotes strength of level
05:40 GMT - Consolidation around the 15500 level has given way to sharp bounce to extend gains from the Nov low to retest strong resistance at the 15618 high. Break here, will open up further gains to the 15644/15683 area. Higher still will see scope to the 15721/15724 resistance which is expected to cap. Lower high sought to further pressure the downside later with support now raised to the 15510/15500 area. Below here will return focus to the downside for retest of the15360 low and see continuation lower to retrace the May/October rally.