A month-old ascending channel portrays the pair’s strength. Immediate downward sloping trend-line questions the upside momentum. With a week-long descending trend-line challenging its near-term upside bias, the USD/IDR pair trades near 14,460 during early Tuesday. The pair has been following an upward sloping trend-channel formation since late-April but its latest trading pattern gives rise to an immediate resistance-line on H4. As a result, 14,520 can act as immediate resistance for the pair ahead of 14,580 and the channel’s upper-line of 14,640. Should there be increased upside past-14,640, the quote can extend its north-run towards 14,665 and 14,720. Meanwhile, a downside break of channel-support, at 14,410 now, can trigger fresh declines in the direction to 61.8% Fibonacci retracement of late-April upside, at 14,300. Given the bears’ refrain from respecting 14,300 rest-point, 14,180 and 14,100 can offer intermediate stops to the downturn targeting 14,000 mark. USD/IDR 4-Hour 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 The SEC postpones a decision on VanEck’s ETF, who cares anyway? FX Street 4 years A month-old ascending channel portrays the pair's strength. Immediate downward sloping trend-line questions the upside momentum. With a week-long descending trend-line challenging its near-term upside bias, the USD/IDR pair trades near 14,460 during early Tuesday. The pair has been following an upward sloping trend-channel formation since late-April but its latest trading pattern gives rise to an immediate resistance-line on H4. As a result, 14,520 can act as immediate resistance for the pair ahead of 14,580 and the channel's upper-line of 14,640. Should there be increased upside past-14,640, the quote can extend its north-run towards 14,665 and 14,720. Meanwhile, a downside… 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.
