Published: 17/04/25 at 03:04 UTC
Chart USD/IDR Updates: Range-bound in consolidation
Technical Analyst
1
Little change, as prices edged up from the 16729 low to consolidate losses from 16970, all-time high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 17115 | * | projection | S1 | 16729 | * | 10 Apr low | |
| R3 | 17050 | * | projection | S2 | 16657 | ** | Mar high | |
| R2 | 17000 | ** | psychological | S3 | 16590 | ** | Feb high | |
| R1 | 16970 | ** | 9 Apr all-time high | S4 | 16535 | * | 19 Mar high |
Asterisk denotes strength of level
03:00 GMT - Little change, as prices edged up from the 16729 low to consolidate losses from 16970, all-time high. Overbought daily studies suggest consolidation giving way to selling pressure later to strong support at the 16657/16590, March and February highs. Break here will see room for deeper correction to retrace gains from the 15070 September low to the 16475, 2024 year high. Meanwhile, resistance at the 16970 high is expected to cap. Clearance, if seen, will extend the underlying bull trend to the 17000 psychological level.