USD/IDR Price News: Indonesian rupiah struggles to justify break of monthly support line

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Having benefited from the break of monthly resistance line the previous day, USD/IDR seesaws around 14,755 during Wednesday’s Asian session.

Other than the sustained trading beyond the previous resistance line, MACD histogram also keeps the bulls hopeful.

As a result, a 100-day EMA level of 14,860 is in the spotlight during further upside. Though, 15,000 round-figure and the May 05 top near 15,180 could question the buyers afterward.

Meanwhile, 14,680/75 becomes the key support area for pair traders to watch as it comprises the resistance turned support as well as an ascending trend line from May 04.

In a case where the bears manage to conquer 14,675 support, the early March high near 14,420 could gain the market’s attention.

USD/IDR daily chart

https://editorial.fxstreet.com/miscelaneous/USDIDR_27052020-637261390918821582.png

Trend: Further recovery expected

Additional important levels

Overview
Today last price14710
Today Daily Change-45.0000
Today Daily Change %-0.30%
Today daily open14755

 

Trends
Daily SMA2014919.95
Daily SMA5015536.1798
Daily SMA10014714.9534
Daily SMA20014395.9052

 

Levels
Previous Daily High14778
Previous Daily Low14710
Previous Weekly High14899
Previous Weekly Low14680
Previous Monthly High16575
Previous Monthly Low14880
Daily Fibonacci 38.2%14752.024
Daily Fibonacci 61.8%14735.976
Daily Pivot Point S114717.3333
Daily Pivot Point S214679.6667
Daily Pivot Point S314649.3333
Daily Pivot Point R114785.3333
Daily Pivot Point R214815.6667
Daily Pivot Point R314853.3333