USD/IDR may rise to 16543 - 16649

Our pivot point stands at 16134.

Our preference

Our next up target stands at 16649.

Alternative scenario

The downside breakout of 16134 would call for 15955 and 15848.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 16225 and 16251).

Supports and resistances

16863 **

16756 *

16649 **

16543

16295 last

16204

16134 **

15955 *

15848 **

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