Published: 2024-12-20T03:14:05.000Z
Chart USD/IDR Updates: Consolidating test of 16300 level
Technical Analyst
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Break above the 16284 resistance has seen extension to the 16300 level where prices are meeting selling pressure
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16474 | ** | 21 Jun YTD high | S1 | 16200 | * | congestion | |
| R3 | 16400 | * | congestion | S2 | 16100 | * | congestion | |
| R2 | 16330 | * | 30 Jul high | S3 | 16000 | * | figure, congestion | |
| R1 | 16300 | * | congestion | S4 | 15969 | ** | 4 Dec high |
Asterisk denotes strength of level
03:00 GMT - Break above the 16284 resistance has seen extension to the 16300 level where prices are meeting selling pressure. Consolidation here see prices unwinding the overbought intraday and daily studies following strong run-up from the 16000 level this week. Gains beyond this, if seen, will see scope to retest resistance at 16330, 30 July high. Meanwhile, support is raised to the 16200 and 16100 congestion, which should underpin. Would take break of these to eased the upside pressure and see room for deeper correction.