Short-Term Uptrend Gives Way The...>

DOLLAR-IDR TECHS: Short-Term Uptrend Gives Way

The short-term uptrend from the Jan 11 lows gave way today shifting the focus

back towards the key 14000 level which marks the recent low and up trendline

support from the 2011 lows. A clean break below here would make a strong case

for a large bearish reversal, initially targeting the June 6 low at 13837. Bulls

need to see a break of down trendline resistance from the Oct high at which

comes in at 14340. A break above here would improve the outlook and target the

200-dma at 14434, above which would suggest a resumption of the long term

bullish trend.