Published: 2025-03-07T03:13:20.000Z
Chart USD/IDR Updates: Consolidating, room for lower later
Technical Analyst
1
Turned up from test of the 16269 support to consolidate losses from the 16590, February YTD high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16625 | ** | Mar 2020 year high | S1 | 16269 | * | 24 Feb low | |
| R3 | 16590 | ** | 28 Feb YTD high | S2 | 16169 | ** | 17 Feb low | |
| R2 | 16474 | * | Jun 2024 year high | S3 | 16149 | * | 24 Jan low | |
| R1 | 16384 | * | Jan high | S4 | 16059 | * | 31 Dec low |
Asterisk denotes strength of level
03:10 GMT - Turned up from test of the 16269 support to consolidate losses from the 16590, February YTD high. Consolidation see prices unwinding oversold intraday studies but this is expected to give way to fresh selling pressure later. Break will turn focus to strong support at the 16169/16149 higher lows. Below these will open up room for deeper pullback to retrace the bullish gains from the September low. Meanwhile, resistance is lowered to the 16384 January high which is expected to cap and sustain losses from the 16590 high.