Published: 2024-12-19T03:39:01.000Z
Chart USD/IDR Updates: Extending gains
Technical Analyst
1
Bullish break above 16094/16100 congestion area has seen sharp rally to reach 16280 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16474 | ** | 21 Jun YTD high | S1 | 16200 | * | congestion | |
| R3 | 16400 | * | congestion | S2 | 16100 | * | congestion | |
| R2 | 16330 | * | 30 Jul high | S3 | 16000 | * | figure, congestion | |
| R1 | 16284 | * | Apr high | S4 | 15969 | ** | 4 Dec high |
Asterisk denotes strength of level
03:35 GMT - Bullish break above 16094/16100 congestion area has seen sharp rally to reach 16280 level. Nearby see resistance at 16284 and clearance here will see scope to retest resistance at 16330, 30 July high. Positive daily and weekly studies keep focus firmly on the upside and higher will see room to the 16400 level. Beyond this will expose the 16474, June YTD high to retest. Meanwhile, support is raised to the 16200 and 16100 congestion, now expected to underpin. Would take break here to eased the upside pressure and see room for deeper correction.