Published: 2025-03-05T03:10:51.000Z
Chart USD/IDR Updates: Extend pullback from 16590 high
Technical Analyst
1
Extending pullback from the 16590 high as prices unwind overbought daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16800 | ** | Jun 1998 all-time high | S1 | 16384 | * | Jan high | |
| R3 | 16625 | ** | Mar 2020 year high | S2 | 16304 | * | Dec high | |
| R2 | 16590 | ** | 28 Feb YTD high | S3 | 16269 | * | 24 Feb low | |
| R1 | 16474 | * | Jun 2024 year high | S4 | 16169 | ** | 17 Feb low |
Asterisk denotes strength of level
03:10 GMT - Extending pullback from the 16590 high as prices unwind overbought daily studies. Support at the 16400/16384 congestion and high of January now under pressure. Break here will turn focus lower to support at 16269 then the 16169/16149 higher lows. Break of these will open up room for deeper pullback to retrace strong gains from the September low. Meanwhile, resistance is lowered to the 16474, 2024 year high, which is expected to cap and sustain losses from the 16590 high.