Indonesian consumer confidence dips in June, Rupiah under pressure

Dhwani Mehta FXStreet

The latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, showed that the country’s Consumer Confidence gauge fell to 126.4 in June when compared to 128.2 booked in May.

Meanwhile, the USD/IDR pair reversed a temporary drop to 4-day lows of 14,077 and jumped to 14,155 highs on Monday, as the US dollar firmed up following strong NFP report and the resultant spike in the US yields.

At the press time, the Indonesian Rupiah remains under pressure at 14,145 levels vs. its American peer, as markets weigh the latest dip in the country’s consumer morale.

From a technical perspective, the spot looks to trade in a narrow range, with the upside capped by the 4H 100MA, near-term descending trend-line while the bulls find some support near 14,080/75 region.

Levels to watch

USD/IDR

Overview
Today last price	14149
Today Daily Change	7.5000
Today Daily Change %	0.05
Today daily open	14141.5

Trends
Daily SMA20	14256.7275
Daily SMA50	14272.732
Daily SMA100	14205.3175
Daily SMA200	14423.5425

Levels
Previous Daily High	14185.5
Previous Daily Low	14080
Previous Weekly High	14199
Previous Weekly Low	14078
Previous Monthly High	14418
Previous Monthly Low	13746
Daily Fibonacci 38.2%	14120.301
Daily Fibonacci 61.8%	14145.199
Daily Pivot Point S1	14085.8333
Daily Pivot Point S2	14030.1667
Daily Pivot Point S3	13980.3333
Daily Pivot Point R1	14191.3333
Daily Pivot Point R2	14241.1667
Daily Pivot Point R3	14296.8333

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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