Published: 2025-05-23T03:12:09.000Z
Chart USD/IDR Updates: Weighing on 16300 support, break in focus
Technical Analyst
1
Consolidating test of support at 16300 congestion but pressure remains firmly on the downside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 16730 | ** | 10 Apr low | S1 | 16300 | * | congestion | |
| R3 | 16584/600 | ** | 14 May high, congestion | S2 | 16259 | * | Mar low | |
| R2 | 16475 | * | Jun 2024 year high | S3 | 16200 | * | congestion | |
| R1 | 16400 | * | congestion | S4 | 16149 | * | 24 Jan low |
Asterisk denotes strength of level
03:10 GMT - Consolidating test of support at 16300 congestion but pressure remains firmly on the downside. Negative daily and weekly studies suggest consolidation here giving way to fresh selling pressure later to open up deeper pullback to retrace the September/April rally. Break here will see room to the 16259/16200 congestion area. Lower still, will see room to support at the 16169/16149 area then the 16090, January YTD low. Meanwhile, resistance is lowered to the 16400 congestion which is expected to cap and sustain rejection from the 16584.00 high of last week.