Technical Analysis of Weekly Price Movement of USD/IDR Exotic Currency Pairs, Monday May 08 2023.
May 8, 2023 5:23 am
On the weekly chart of the USD/IDR exotic currency pairs, the strength seems hold to its weekly support level 1 on 14670 coupled with the appearance of deviations between price movements and the MACD indicator as well as confirmation of the presence of the Descending Broadening Wedge pattern which indicates exhaustion of the strengthening of the Garuda currency on the weekly chart, in the next few weeks the Rupiah has the potential to weaken against the United States Dollar as long as there is no strengthening If it breaks below the 14618 level, the Rupiah has the potential to weaken to the 15289 level as the main target and the 15474 level as the next target to be tested.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
On the weekly chart of the USD/IDR exotic currency pairs, the strength seems hold to its weekly support level 1 on 14670 coupled with the appearance of deviations between price movements and the MACD indicator as well as confirmation of the presence of the Descending Broadening Wedge pattern which indicates exhaustion of the strengthening of the Garuda currency on the weekly chart, in the next few weeks the Rupiah has the potential to weaken against the United States Dollar as long as there is no strengthening If it breaks below the 14618 level, the Rupiah has the potential to weaken to the 15289 level as the main target and the 15474 level as the next target to be tested.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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