Published: 2025-01-22T02:46:16.000Z
Chart USD/IDR Updates: Consolidating above 16300 support but room for deeper pullback
Technical Analyst
2
Little change, as prices extend consolidation below the 16384 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16560 | * | 6 Apr 2020 high | S1 | 16300 | * | congestion | |
| R3 | 16474 | ** | Jun 2024 year high | S2 | 16259 | * | 2 Jan high | |
| R2 | 16400 | * | congestion | S3 | 16200 | * | congestion | |
| R1 | 16384 | ** | 16 Jan YTD high | S4 | 16124 | * | 7 Jan low |
Asterisk denotes strength of level
02:45 GMT - Little change, as prices extend consolidation below the 16384 high and unwind the overbought intraday studies. Daily studies are stretched as well and see scope for pullback to support at the 16300/16259 previous highs. Would take break here to open up room for deeper pullback to retrace gains from the September low to the 16200 congestion. Below the latter will turn focus to the strong support at the 16124 and 16059, higher lows. Meanwhile, the 16384 high expected to cap. Clearance here, if seen, will open up room to 16400 congestion then the 16474, the 2024 year high.