Published: 2025-07-30T05:53:57.000Z
Chart USD/IDR Updates: Extending corrective bounce
Technical Analyst
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Break above the 16300 resistance has seen extension to reach the 16400 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16675 | * | May high | S1 | 16300 | * | congestion | |
| R3 | 16600 | * | congestion | S2 | 16250 | * | 9 Jul high | |
| R2 | 16495 | ** | Jun high | S3 | 16180 | ** | 4 Jul low | |
| R1 | 16400 | * | congestion | S4 | 16159 | ** | May low |
Asterisk denotes strength of level
05:50 GMT - Break above the 16300 resistance has seen extension to reach the 16400 level. Consolidation here see prices unwinding overbought intraday studies but a later break cannot be ruled. Clearance will open up the June high at 16495 to retest. Gains are seen corrective of the April/May losses and expected to give way to fresh selling pressure later. Meanwhile, support is raised to the 16300 congestion which now underpin. Below this will fade the upside pressure and open up room for retest of 16180/16159 lows to retest.