Technical analysis of USD/IDR for May 18, 2018

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On the weekly chart, we can see that USD/IDR is still moving in a sideways manner with a bullish bias. However, the stochastic oscillator is already making a divergence between the price. This means in a few weeks, a small correction is expected for this pair before they it is going uwardp again. The reason for the upward move is strength of USD. On the other hand, the situation is turbulent in Indonesia due to first the terrorist attack and the Presidential Cycles. Leverage for USD becomes strong. If resistance of 14,133 can be easily breached, the next target will be at 14,784 level.

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The material has been provided by InstaForex Company - www.instaforex.com