Published: 2025-10-23T05:39:36.000Z
Chart USD/IDR Updates: Extending bounce from 16525 low
2
Consolidation below resistance at the 16600 congestion has given way to break
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16885 | * | 23 Apr high | S1 | 16600 | * | congestion | |
| R3 | 16800 | * | congestion | S2 | 16525 | * | 9 Oct low | |
| R2 | 16770 | ** | 26 Sep high | S3 | 16495 | ** | Jun high | |
| R1 | 16700 | * | figure | S4 | 16350 | * | congestion |
Asterisk denotes strength of level
05:35 GMT - Consolidation below resistance at the 16600 congestion has given way to break to extend bounce from the 16525 low of last week. Prices are unwinding oversold daily studies and suggest scope for stronger gains to the 16700 level. Clearance here will expose the 16770 high to retest. However, this is expected to cap and give way to renewed selling pressure later. Meanwhile, support is raised to the 16600 congestion ahead of the 16525 low. A later break here will see room for extension to strong support at the 16495, June-August range highs.