USD/IDR may fall 41 - 62 pips

Our pivot point is at 16397.

Our preference

The downside prevails as long as 16397 is resistance.

Alternative scenario

Above 16397, look for 16432 and 16453.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 16388 and 16392). Finally, the USD/IDR is trading below its lower Bollinger band (standing at 16371).

Supports and resistances

16453 **

16432 *

16397 **

16384

16370 last

16329

16308 **

16287 *

16266 **

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