Chart USD/IDR Updates: Higher in range from 16729 low
Edged up from the 16729 low but overbought daily studies suggest consolidation here to give way to selling pressure later
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 17115 | * | projection | S1 | 16729 | * | 10 Apr low | |
| R3 | 17050 | * | projection | S2 | 16657 | ** | Mar high | |
| R2 | 17000 | ** | psychological | S3 | 16590 | ** | Feb high | |
| R1 | 16970 | ** | 9 Apr all-time high | S4 | 16535 | * | 19 Mar high |
Asterisk denotes strength of level
03:10 GMT - Edged up from the 16729 low but overbought daily studies suggest consolidation here to give way to selling pressure later to extend losses from the 16970, all-time high. Daily studies have turned mixed from overbought areas and suggest scope for deeper pullback to strong support at the 16657/16590, March and February highs. Break here will see deeper correction of gains from the 15070 September low to the 16475, 2024 year high. Meanwhile, resistance at the 16970 high is expected to cap. Clearance, if seen, will extend the underlying bull trend to the 17000 psychological level.