Published: 2025-02-07T02:43:09.000Z
Chart USD/IDR Updates: Range-bound in consolidation
Technical Analyst
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Little change, as prices edged up from test of support at the 16300/16259 area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16600 | * | congestion | S1 | 16300 | * | Dec high | |
| R3 | 16560 | * | 6 Apr 2020 high | S2 | 16259 | * | 2 Jan high | |
| R2 | 16470/74 | ** | 3 Feb YTD, 2024 year highs | S3 | 16200 | * | congestion | |
| R1 | 16384 | * | Jan high | S4 | 16149 | ** | 24 Jan low |
Asterisk denotes strength of level
02:40 GMT - Little change, as prices edged up from test of support at the 16300/16259 area. Consolidation here see prices unwinding oversold intraday studies but the negative daily studies suggest this giving to renewed selling pressure later. Lower will see room for extension to the 16200 congestion then the 16149 support. Break of the latter will see deeper pullback to retrace the strong rally from the 15070 September low to the 16124/16059 support. Meanwhile, resistance is lowered to the 16384 high of January which is expected to cap and sustain losses from the 16470/16474 resistance.