Chart USD/IDR Updates: Break above 16800 to reach fresh all-time high

Asterisk denotes strength of level

05:10 GMT - Gapped up at the opening after the long holiday break with prices breaking above the 16800, June 1998 high, to reach fresh all-time high at 16849. Positive daily and weekly studies suggest scope for further extension of the underlying bull trend. Higher will see room to 16900 figure then the 17000 psychological level where reaction can be expected. Meanwhile, support is raised to the 16800 level and only below here will fade the upside pressure and see room for deeper corrective pullback to the recent highs at 16657 and 16590.