USD/IDR recovers from two-week low amid oversold RSI conditions. Sustained trading below 50-day SMA, the monthly resistance line keeps bears hopeful. 100-day SMA adds to the support below the month’s low. USD/IDR bounces off a two-week low of 14,863 ahead of the European session on Monday. Even so, short-term falling trendline, as well as a sustained trading below 50-day SMA and monthly resistance line, keeps sellers hopeful. Though, oversold RSI conditions favor the pair’s pullback moves, which in turn push buyers for fresh entries on the break of 14,885 immediate resistance line. However, a confluence of 61.8% Fibonacci retracement of March month upside and a falling trend line from April 13, around 15,070/75, could keep the pair’s further recoveries under check. If at all USD/IDR prices rise beyond 15,075, 50% Fibonacci retracement and 50-day SMA, respectively near 15,370 and 15,500, will lure the bulls. On the contrary, the pair’s further downside could take rests on the monthly low of 14,678, as well as 100-day SMA level of 14,648, ahead of looking towards the early-March top near 14,420. USD/IDR daily chart Trend: Pullback expected 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 Britons visiting shops collapse during coronavirus lockdown – BRC/ Shopper Trak survey FX Street 2 years USD/IDR recovers from two-week low amid oversold RSI conditions. Sustained trading below 50-day SMA, the monthly resistance line keeps bears hopeful. 100-day SMA adds to the support below the month’s low. USD/IDR bounces off a two-week low of 14,863 ahead of the European session on Monday. Even so, short-term falling trendline, as well as a sustained trading below 50-day SMA and monthly resistance line, keeps sellers hopeful. Though, oversold RSI conditions favor the pair’s pullback moves, which in turn push buyers for fresh entries on the break of 14,885 immediate resistance line. However, a confluence of 61.8% Fibonacci retracement of… Regulated 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.
