| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇗ | ⇘ |
The dollar index, which measures the US Dollar against a basket of major currencies, has continued to trade bullish. The currency pair breached the upper boundary of a descending channel pattern at 97.80 on January 27.
All things being equal, the 55– period simple moving average will most likely continue to guide the Dollar.IDX/USD pair higher. The potential target would be at the weekly R3 at 98.50.
However, a resistance level formed by the weekly R1 at 97.91 could provide resistance for the exchange rate and drive the price towards the 97.43 during the following trading sessions.