USD/IDR Price News: Indonesia rupiah stays on the bears’ radars above 14,300

• USD/IDR eases from the monthly top, justifies the strength of 200-day EMA resistance.
• Two-month-old resistance-turned-support keeps the pair buyers hopeful amid bullish MACD.
• Sellers can target fresh low under 13,870 in case of additional weakness.

USD/IDR drops to 14,353, down 0.89% on a day, during the pre-European session on Tuesday. In doing so, the pair defies the previous day’s upside momentum that questioned the monthly high.

However, the optimism still prevails as the quote keeps the upside break of a descending trend line from April 22. Also supporting the buyers could be the bullish MACD as well as higher low formations during the current month.

As a result, the USD/IDR prices may again attack a 200-day EMA level of 14,545 to visit the late-May top surrounding 15,020. During the pair’s further upside past-15,020, April 20 bottom close to 15,375 may return to the charts.

Alternatively, the pair’s declines below the resistance-turned-support line, at 14,110 now, could escalate the recent weakness towards challenging the monthly low of 13,853. It should, however, be noted that the pair’s extended fall below 13,853 may take rest on the early-February high near 13,830.

USD/IDR daily chart

Trend: Further upside expected