USD/IDR may rise to 16499 - 16632

Our pivot point stands at 16009.

Our preference

The upside prevails as long as 16009 is support.

Alternative scenario

The downside breakout of 16009 would call for 15787 and 15655.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 16067 and 16044).

Supports and resistances

16898 **

16765 *

16632 **

16499

16224 last

16097

16009 **

15787 *

15655 **

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