USD/IDR may rise 56 - 84 pips

Our pivot point stands at 16148.

Our preference

As long as 16148 is support look for 16269.

Alternative scenario

The downside breakout of 16148 would call for 16101 and 16073.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 16178 and 16162).

Supports and resistances

16324 **

16297 *

16269 **

16241

16185 last

16167

16148 **

16101 *

16073 **

Number of asterisks represents the strength of support and resistance levels.