| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Neutral | Neutral |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
The Dollar index has been edging low against the US Dollar since the beginning of September after the pair reversed from the upper boundary of a descending channel pattern at 99.32. The pair tested the bottom border of a dominant ascending channel at 97.52 on September 13.
As for the near future, the Dollar.IDX/USD pair will likely continue to trade in the descending channel pattern. The possible target for the exchange rate would be at a support cluster formed by the combination of the weekly and the monthly pivot points at 97.33.
If the support cluster holds, a potential upside reversal could occur within the following trading sessions.