USD/IDR may rise to 16582 - 16723

Our pivot point stands at 16083.

Our preference

The upside prevails as long as 16083 is support.

Alternative scenario

The downside breakout of 16083 would call for 15846 and 15704.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 16117 and 16083).

Supports and resistances

17006 **

16865 *

16723 **

16582

16286 last

16176

16083 **

15846 *

15704 **

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