Chart USD/IDR Updates: Fresh historic high
Consolidation below the 17190 high has given way to sharp break higher to reach fresh historic high at 17300 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 18000 | figure | S1 | 17090 | * | 17 Apr high | ||
| R3 | 17600 | projection | S2 | 17040 | * | 9 Apr low | ||
| R2 | 17500 | projection | S3 | 17000 | ** | congestion | ||
| R1 | 17300 | intraday high | S4 | 16975 | ** | Jan high |
Asterisk denotes strength of level
06:30 GMT - Consolidation below the 17190 high has given way to sharp break higher to reach fresh historic high at 17300 level. Futher gains cannot be ruled out and higher will see room for extension the 17500/17600 projection target. Higher still, will see potential to 18000 figure but overbought daily and weekly studies caution corrective pullback. Meanwhile, support is raised to the 17100/17090 congestion and 17 April high which should underpin. Would take break here to ease the upside pressure and open up room for corrective pullback to strong support at the 17000/16975 congestion and January high.