USD/IDR bounces off the five-week low. 23.6% Fibonacci retracement and a four-month-old rising trend-line act as immediate supports. The USD/IDR pair’s U-turn from five-week low still fails to overcome near-term key resistances as the quote trades near 14,045 during early Wednesday. Among the upside barriers, 38.2% Fibonacci retracement of May-July declines, at 14,095 appears as the nearest resistance, a break of which could escalate the pair’s recovery towards 14,195/205 confluence region including 50% Fibonacci retracement and 200-day Exponential Moving Average (EMA). Should prices manage to rise past-14,205 on a daily closing basis, current month high nearing 14,275 and 61.8% Fibonacci retracement at 14,311 will become buyers’ favorite. On the downside, 23.6% Fibonacci retracement level of 13,962 and an upward sloping trend line since late-June, at 13,943 could restrict the pair’s immediate declines. Assuming bears refrain from respecting 13,943 supports, a horizontal area including July and September month low, near 13,880 will be the key to watch. USD/IDR daily chart Trend: sideways 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 GBP/USD technical analysis: Losing altitude after bearish Doji reversal FX Street 3 years USD/IDR bounces off the five-week low. 23.6% Fibonacci retracement and a four-month-old rising trend-line act as immediate supports. The USD/IDR pair's U-turn from five-week low still fails to overcome near-term key resistances as the quote trades near 14,045 during early Wednesday. Among the upside barriers, 38.2% Fibonacci retracement of May-July declines, at 14,095 appears as the nearest resistance, a break of which could escalate the pair's recovery towards 14,195/205 confluence region including 50% Fibonacci retracement and 200-day Exponential Moving Average (EMA). Should prices manage to rise past-14,205 on a daily closing basis, current month high nearing 14,275 and 61.8% Fibonacci… 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.
