FX.co ★ Technical Analysis of Daily Price Movement of USD/IDR Exotic Currency Pairs, Wednesday, December 27 2023.

On the daily chart of USD/IDR exotic currency pairs, there is the weakness where this can be seen from CCI indicator which manages to breaks below the three important levels (100, 0, & -100) and now it is hold on to the level area of -100 -0, besides, the price movement is also below the WMA 30 shift 2 along with the appearance of Bearish 123 pattern followed by a few Bearish Ross Hook (RH) so that based on those facts, in a few days ahead, USD/IDR has the potential to test the level below the current price which is 15350.21 as the first target and 15209.80 as the second target but because of the appearance of Descending Broadening Wedge pattern, there is a possibility of the reverese weakness direction at USD. IDR will be strong especially if it breaks above the level 15724.63 so that if this level successfully broken above, then all the weakness scenario that has been described previously will become invalid and cancel itself.

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