Technical Analysis of Daily Price Movement of USD/IDR Exotic Currency Pairs, Tuesday August 08 2023.
August 8, 2023 6:21 am
On the daily chart the USD/IDR exotic currency pair can be seen on the CCI indicator still showing quite strong strengthening momentum which is seen when CCI tested the 0 level twice which indicates that there is quite strong support that occurs makes Low positions higher where the first support is at the 14814 level and the second support is at the 14909 level and the price movement is above the WMA 20 level, it is clear that USD / IDR will go to the 15279 level as the main target and the 15474 level as the second target as ling as both of them were on their way to these target levels, there was no downward correction that exceeded the 14909 level because if this level is broken, the strengthening of the USD/IDR will be hampered for several days and provide an opportunity for the Garuda currency to rebound against the US Dollar.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
On the daily chart the USD/IDR exotic currency pair can be seen on the CCI indicator still showing quite strong strengthening momentum which is seen when CCI tested the 0 level twice which indicates that there is quite strong support that occurs makes Low positions higher where the first support is at the 14814 level and the second support is at the 14909 level and the price movement is above the WMA 20 level, it is clear that USD / IDR will go to the 15279 level as the main target and the 15474 level as the second target as ling as both of them were on their way to these target levels, there was no downward correction that exceeded the 14909 level because if this level is broken, the strengthening of the USD/IDR will be hampered for several days and provide an opportunity for the Garuda currency to rebound against the US Dollar.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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