Chart USD/IDR Updates: Fresh historic high
Break above the 17730 high of last week see prices extending the underlying bull trend and see projection target at 17800 within reach
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 18500 | projection | S1 | 17600 | congestion | |||
| R3 | 18150 | projection | S2 | 17520 | * | 12 May high | ||
| R2 | 18000 | ** | figure | S3 | 17437 | * | 5 May high | |
| R1 | 17800 | projection | S4 | 17300 | * | 23 Apr high |
Asterisk denotes strength of level
04:25 GMT - Break above the 17730 high of last week see prices extending the underlying bull trend and see projection target at 17800 within reach. Higher still will see scope for extension to the 18000 figure where reaction can be expected as daily and weekly studies stretched into overbought areas. Meanwhile, support is raised to the 17730/17700 area. Below this will see room for deeper pullback to support at the 17600/17520, congestion and 12 May high which should underpin. Break will fade the upside pressure and see room for deeper corrective pullback to retrace gains from the January low.