Published: 2025-05-21T03:04:34.000Z
Chart USD/IDR Updates: Weighing on 16400/16379 support, break in focus
Technical Analyst
2
Weighing on congestive support at the 16400/16379 area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16800 | * | congestion | S1 | 16379 | ** | 5 May low | |
| R3 | 16730 | ** | 10 Apr low | S2 | 16304 | * | Dec high | |
| R2 | 16584/600 | ** | 14 May high, congestion | S3 | 16259 | * | Mar low | |
| R1 | 16475 | * | Jun 2024 year high | S4 | 16200 | * | congestion |
Asterisk denotes strength of level
03:00 GMT - Weighing on congestive support at the 16400/16379 area with negative daily studies highlighting risk for break here to extend losses from the April current year high. Break here will see room for deeper pullback to retrace the strong September/April rally and see extension to 16259/16200 congestion area. Lower still, will open up support at the 16169/16149 area and 16090, January YTD low. Meanwhile, resistance is lowered to the 16475, congestion and 2024 year high, which is expected to cap and sustain rejection from the 16584.00 high of last week.