USD/IDR: Indonesian Rupiah trades at 2-month highs ahead of Indonesian elections

Indonesian Rupiah (IDR) is trading at a two-month high of 14,055 a day ahead of the Indonesian general elections.

The currency has appreciated by 1.95 percent in the last 1.5 months and may extend gains further in the next 24 hours as pollsters are expecting the incumbent Joko Widodo to come out victorious. Moreover, a win by the opposition led by the former army general Prabowo Subianto is seen introducing some economic uncertainty, given their lack of experience in governing.

That said, the broad thrust of economic policies between the two camps is not markedly different, according to ANZ analysts.

Further, any uptick in the IDR on incumbent victory could be short-lived as Indonesian exports continue to underperform its imports.        

The official data released yesterday showed the outbound shipments fell 10 percent year on year to $14.09bn in March, the fifth consecutive monthly decline, while imports declined more than expected, by 6.8 percent to $13.49bn compared to analyst expectations of a 3.8 percent drop.

USD/IDR Technical Levels

USD/IDR

Overview
Today last price 14055
Today Daily Change -3.1000
Today Daily Change % -0.02
Today daily open 14072
 
Trends
Daily SMA20 14174.8
Daily SMA50 14137.903
Daily SMA100 14232.299
Daily SMA200 14501.6645
Levels
Previous Daily High 14107.75
Previous Daily Low 14059
Previous Weekly High 14258.5
Previous Weekly Low 14092.5
Previous Monthly High 14416
Previous Monthly Low 14056.5
Daily Fibonacci 38.2% 14077.6225
Daily Fibonacci 61.8% 14089.1275
Daily Pivot Point S1 14051.4167
Daily Pivot Point S2 14030.8333
Daily Pivot Point S3 14002.6667
Daily Pivot Point R1 14100.1667
Daily Pivot Point R2 14128.3333
Daily Pivot Point R3 14148.9167

 

USD/IDR

Overview
Today last price 14068.9
Today Daily Change -3.1000
Today Daily Change % -0.02
Today daily open 14072
 
Trends
Daily SMA20 14174.8
Daily SMA50 14137.903
Daily SMA100 14232.299
Daily SMA200 14501.6645
Levels
Previous Daily High 14107.75
Previous Daily Low 14059
Previous Weekly High 14258.5
Previous Weekly Low 14092.5
Previous Monthly High 14416
Previous Monthly Low 14056.5
Daily Fibonacci 38.2% 14077.6225
Daily Fibonacci 61.8% 14089.1275
Daily Pivot Point S1 14051.4167
Daily Pivot Point S2 14030.8333
Daily Pivot Point S3 14002.6667
Daily Pivot Point R1 14100.1667
Daily Pivot Point R2 14128.3333
Daily Pivot Point R3 14148.9167

 

 

 

 

 

 

 

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