USD/IDR may fall to 15307 - 15477

16187 is our pivot point.

Our preference

The downside prevails as long as 16187 is resistance.

Alternative scenario

Above 16187, look for 16477 and 16649.

Comment

The RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 16183 and 16224). Finally, the USD/IDR is trading below its lower Bollinger band (standing at 15935).

Supports and resistances

16649 **

16477 *

16187 **

16074

15830 last

15477

15307 **

15136 *

14965 **

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