Published: 2025-01-21T03:34:19.000Z
Chart USD/IDR Updates: Lower in consolidation, room for deeper pullback
Technical Analyst
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Lower in consolidation from the 16384 high as prices unwind the overbought intraday studies to reach the 16300 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16560 | * | 6 Apr 2020 high | S1 | 16300 | * | congestion | |
| R3 | 16474 | ** | Jun 2024 year high | S2 | 16259 | * | 2 Jan high | |
| R2 | 16400 | * | congestion | S3 | 16200 | * | congestion | |
| R1 | 16384 | ** | 16 Jan YTD high | S4 | 16124 | * | 7 Jan low |
Asterisk denotes strength of level
03:30 GMT - Lower in consolidation from the 16384 high as prices unwind the overbought intraday studies to reach the 16300 level. Daily studies are overbought as well and suggest room for deeper pullback. Break of the 16300/16259 support will open up room for deeper pullback to the 16200 congestion. Below the latter will turn focus to the strong support at the 16124 and 16059, higher lows. The 16384 high now expected to cap. Clearance here, if seen, will open up room to 16400 congestion then the 16474, the 2024 year high.