Published: 2025-02-28T03:09:46.000Z
Chart USD/IDR Updates: Break to fresh year high
Technical Analyst
-
Break above resistance at the 16384/16400 area has seen follow-through above the 2024 year high at 16474
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 17000 | ** | figure | S1 | 16384 | * | Jan high | |
| R3 | 16800 | ** | Jun 1998 all-time high | S2 | 16304 | * | Dec high | |
| R2 | 16625 | ** | Mar 2020 year high | S3 | 16269 | * | 24 Feb low | |
| R1 | 16560 | * | Apr 2020 high | S4 | 16169 | ** | 17 Feb low |
Asterisk denotes strength of level
03:05 GMT - Break above resistance at the 16384/16400 area has seen follow-through above the 2024 year high at 16474. Break to fresh high see prices extending the underlying bull trend from the 2021 year low and see scope to the 16560 then the 16625, March 2020 year high. Deep overbought daily studies suggest reaction at the latter likely. Clearance, if seen, will shift focus to the 16800, June 1998 all-time high. Meanwhile, support is raised to the 16400/16384 area which now underpin. Only break here will see room back to support at the 16269 and 16169 higher lows.