Technical Analysis of Daily Price Movement of USD/IDR Exotic currency pairs, Monday May 22, 2023.
May 22, 2023 7:23 am
On the daily chart, the USD/IDR exotic currency pair, seems:
1. MA 50 still Death Cross with its MA 200.
2. RSI indicator is above the Overbought level.
So, based on two things above we can conclude that in a few days ahead, USD has the potential to weaken against Garuda currency where its Bullish Orderblock level on the 14755 will be the level that will be the main target and the last Bearish Ross Hook level 14618 will be the next target to be addressed but all of these downside scenarios will become invalid if on the way to these targets the Rupiah suddenly weakens again past the level of 14963 .
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
On the daily chart, the USD/IDR exotic currency pair, seems:
1. MA 50 still Death Cross with its MA 200.
2. RSI indicator is above the Overbought level.
So, based on two things above we can conclude that in a few days ahead, USD has the potential to weaken against Garuda currency where its Bullish Orderblock level on the 14755 will be the level that will be the main target and the last Bearish Ross Hook level 14618 will be the next target to be addressed but all of these downside scenarios will become invalid if on the way to these targets the Rupiah suddenly weakens again past the level of 14963 .
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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