USD/IDR technical analysis: Sellers keep lurking around 2-week old resistance-line

• USD/IDR struggles between two-week-old descending trend-line and 200-bar SMA.
• 23.6% and 61.8% Fibonacci retracement levels offer additional numbers to watch.

Having registered another pullback from near-term resistance-line, USD/IDR takes the rounds to 14,230 during Tuesday’s Asian morning.

The quote currently declines towards 61.8% Fibonacci retracement of July-August upside, at 14,150, whereas 200-bar simple moving average (SMA) near 14,130 will restrict further declines.

In a case prices drop below 14,130, 14,070, 14,050 and 14,000 round-figure could entertain sellers ahead of highlighting July month low of 13,884.

Meanwhile, an upside clearance of 14,340 resistance-line can trigger fresh rally towards 23.6% Fibonacci retracement level of 14,418 before pushing buyers to 14,442 and 14,582 numbers to the north.

USD/IDR 4-hour chart

Trend: Sideways