Chart USD/IDR Updates: Fresh historic high
Consolidation below 17370 high of last week gave way to rebound from 17240 low to reach fresh historic high at 17415
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 18000 | figure | S1 | 17300 | * | 23 Apr high | ||
| R3 | 17600 | projection | S2 | 17240/200 | * | 4 May low, congestion | ||
| R2 | 17500 | projection | S3 | 17137 | 17 Apr low | |||
| R1 | 17415 | intraday high | S4 | 17100/090 | ** | congestion, 7 Apr high |
Asterisk denotes strength of level
04:15 GMT - Consolidation below 17370 high of last week gave way to rebound from 17240 low to reach fresh historic high at 17415. Higher will see room for extension to the 17500 and 17600 projection targets. Gains beyond this, if seen, will see scope for extension to the 18000 figure but deep overbought daily and weekly studies caution corrective pullback. Meanwhile, support is raised to the 17300 high of 23 April and extending to 17240 Monday's pullback low. This area should underpin and sustain strong gains from the 16705 January current year low. Below here will fade the upside pressure and open up room for deeper corrective pullback