Published: 2024-11-05T03:01:31.000Z
Chart USD/IDR Updates: Extending gains as 15829 gap attracts
Technical Analyst
-
Bounce from the 15680 support has seen gains to retest the October high at 15776
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 15940 | ** | 61.8% Jun/Sep fall | S1 | 15680 | * | 31 Oct low | |
| R3 | 15900 | figure | S2 | 15600 | * | congestion | ||
| R2 | 15829 | ** | 13 Aug low, gap high | S3 | 15500 | * | congestion | |
| R1 | 15776 | * | 29 Oct high | S4 | 15430 | ** | 21 Oct low |
Asterisk denotes strength of level
03:00 GMT - Bounce from the 15680 support has seen gains to retest the October high at 15776. Closed above here will see room to fill the gap at the 15829 low of 13 August. Beyond this will open up further gains to retrace the June/September losses and see room to the 15900 figure. Higher still, if seen, will see scope to 15940, 61.8% Fibonacci level. However, overbought daily studies caution corrective pullback to retest the 15680 support. Break here needed to eased the upside pressure and open up room for deeper pullback to congestion at the 15600/15500 area.