USD/IDR remains on the back foot below short-term key resistances. 50% Fibonacci retracement is in focus for now. Normal RSI conditions, a sustained weakness favor the bears. USD/IDR declines 0.40% to 15,806 during the Asian session on Monday. In doing so, the pair extends its weakness below the monthly falling trend line while also stretching the recent drop beneath 21-day SMA. Considering the pair’s sustained trading below key resistance, coupled with the normal conditions of the RSI, USD/IDR prices are likely to remain weak. As a result, 50% Fibonacci retracement of January-April upside, near 15,440, could lure the sellers. Should there be a further downside below 15,440, 61.5% Fibonacci retracement and 50-day SMA, respectively around 14,915 and 14,860, could lure the sellers. On the upside, a 21-day SMA level of 16,065 and the descending trend line from April 01, currently at 16,105, could keep the pair’s recovery moves under check. USD/IDR daily chart Trend: Bearish FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Oil turns green as traders reassess historic OPEC+ output cut deal FX Street 2 years USD/IDR remains on the back foot below short-term key resistances. 50% Fibonacci retracement is in focus for now. Normal RSI conditions, a sustained weakness favor the bears. USD/IDR declines 0.40% to 15,806 during the Asian session on Monday. In doing so, the pair extends its weakness below the monthly falling trend line while also stretching the recent drop beneath 21-day SMA. Considering the pair’s sustained trading below key resistance, coupled with the normal conditions of the RSI, USD/IDR prices are likely to remain weak. As a result, 50% Fibonacci retracement of January-April upside, near 15,440, could lure the sellers. Should… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
