USD/IDR Price News: Indonesian rupiah ignores mixed Inflation data, breaks 200-HMA support
|- USD/IDR drops 0.20% even as Indonesian Inflation data marked contrasting signals in September.
- Broad US dollar weakness, risk-on mood seems to favor the Asian currency.
- Immediate falling trend line, downside break of 200-HMA keep sellers hopeful.
- Buyers may refrain from entries unless crossing weekly resistance line.
USD/IDR drops to 14,865, down 0.20% intraday, during the pre-European session on Thursday. The pair recently ignored mixed Indonesian Inflation numbers for September while defying the previous day’s positive performance.
Indonesia’s headline Inflation dropped below -0.01% MoM to reprint -0.05% figures whereas the YoY numbers cross 1.32% prior while matching 1.42% market consensus. Further, the Core Inflation declines below 2.03% previous readouts and 2.0% forecasts to 1.86% in September.
With the pair’s sustained break of 200-HMA, the weekly support line near 14,824 seems to lure the sellers ahead of the 61.8% Fibonacci retracement of September 21-24 upside, at 14,784.
Alternatively, 200-HMA and the adjacent falling trend line highlight 14,875/80 as nearby key resistance ahead of a falling trend line from last Thursday, at 14,950 now.
In a case where the bulls conquer 14,950, they need a successful ride over the 15,000 threshold to challenge the previous month’s high near 15,140.
USD/IDR hourly chart
Trend: Bearish
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