Chart USD/IDR Updates: Sharp pullback
Consolidation beneath the 17880/900 resistance has given way to pullback as prices unwind the overbought intraday and daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 18126 | ** | 13 Jul high | S1 | 17770 | * | 10 Aug low | |
| R3 | 18090 | * | 28 Jul high | S2 | 17690 | ** | Jun low | |
| R2 | 18000 | * | figure | S3 | 17600 | * | congestion | |
| R1 | 17880/900 | ** | Jul low, congestion | S4 | 17500 | ** | 9 Sep low |
Asterisk denotes strength of level
04:50 GMT - Consolidation beneath the 17880/900 resistance has given way to pullback as prices unwind the overbought intraday and daily studies. Rejection from 17878 high see prices retracing gains from the 17500 low of 9 September with support starting at the 17770/17750 area and extending to 17690, August low. Would take break of the latter to fade the upside pressure and see return to the 17600 congestion and the 17500 low. Only break above strong resistance at 17880/17900, July low and congestion area, will see room for extension to channel resistance at 17960 then the 18000 level.