Published: 2025-01-06T03:11:21.000Z
Chart USD/IDR Updates: Extending consolidation below 16304 high
Technical Analyst
-
Extending consolidation at the 16200 level following bounce from the 16059 low of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16400 | * | congestion | S1 | 16100 | * | congestion | |
| R3 | 16330 | * | 30 Jul high | S2 | 16059 | * | 31 Dec low | |
| R2 | 16304 | * | 20 Dec high | S3 | 16000 | * | congestion | |
| R1 | 16254 | * | 27 Dec high | S4 | 15969 | ** | 4 Dec high |
Asterisk denotes strength of level
03:10 GMT - Extending consolidation at the 16200 level following bounce from the 16059 low of last week. Positive daily studies suggest scope for retest of the strong resistance at the 16304 high. Break here will extend gains from the September 2024 year low and see room to the 16330 resistance. Meanwhile, support at the 16100/16059 area should now underpin. Would take break here to turn focus to the downside and see room for deeper pullback to retrace gains from the September low to the strong support at the 16000 level then the 15969/15952, previous highs.