| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇘ | ⇒ | ⇘ |
The dollar index, which measures the US Dollar against a basket of major currencies, has declined by 5.09% in value since February 20. The exchange rate tested the lower boundary of a descending channel pattern at 94.50 during this period.
The currency pair is currently trading near a resistance cluster formed by the 50– period simple moving average and the weekly pivot point at 96.54.
If the resistance cluster holds, the DOLLAR.IDX/USD pair will continue its downside movement in the near future.
However, if the pair breaks the cluster, a breakout through the upper boundary of the descending channel pattern could occur in the short-term.