Chart USD/IDR Updates: Extending September gains
Consolidation beneath the 17880/17900 resistance has given way to break to extend the September gains from the 17500 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 18126 | ** | 13 Jul high | S1 | 17770 | * | 10 Aug low | |
| R3 | 18090 | * | 28 Jul high | S2 | 17690 | ** | Jun low | |
| R2 | 18000 | ** | figure | S3 | 17600 | * | congestion | |
| R1 | 17960 | * | channel | S4 | 17500 | ** | 9 Sep low |
Asterisk denotes strength of level
04:20 GMT - Consolidation beneath the 17880/17900 resistance has given way to break to extend the September gains from the 17500 low. Higher see room to channel resistance from the June/September lows at 17960 and the 18000 figure. Would expect reaction at the latter with gains seen corrective of the losses from the June high. Meanwhile, support is raised to the 17880 July low which should underpin. Below here will see room for pullback to strong support at 17770 low of 10 August and 17690, June low. Break of these will return focus to the downside for retest of 17600 congestion then 17500 low.