Polls close in Indonesia, USD/IDR still listless below 14,100

The eight-hour voting process across Indonesia for the Presidential election and the parliament have closed now and the outcome as to who would be the next President should be clear by late-Wednesday, though official results will be known in May.

According to Omkar Godbole, FXStreet’s Analyst, Incumbent Joko Widodo is up against nationalist former army general Prabowo Subianto. From Indonesian Rupiah's point of view, Subianto's victory could bring in some uncertainty, given his lack of experience in governing. That said, there is very little difference between the economic policies proposed by both candidates. Even so, Widodo victory may put a bid under the IDR.”

Most opinion polls give Widodo a double-digit lead, but the opposition says the race is much closer and Prabowo said before voting in the city of Bogor he was optimistic about winning, Reuters reports.

Throughout the polling process and now as the voting ends, the Indonesian Rupiah continues to trade flat-lined near 14,085 levels against its American counterpart, with markets awaiting a likely Widodo win for the USD/IDR to hit fresh two-month lows to test the next support at 13,890 (February lows).

USD/IDR Technical Levels

 

USD/IDR

Overview
Today last price 14080
Today Daily Change -37.0000
Today Daily Change % -0.26
Today daily open 14085
 
Trends
Daily SMA20 14168.45
Daily SMA50 14140.582
Daily SMA100 14227.8435
Daily SMA200 14500.2895
Levels
Previous Daily High 14158.5
Previous Daily Low 14056
Previous Weekly High 14258.5
Previous Weekly Low 14092.5
Previous Monthly High 14416
Previous Monthly Low 14056.5
Daily Fibonacci 38.2% 14119.345
Daily Fibonacci 61.8% 14095.155
Daily Pivot Point S1 14041.1667
Daily Pivot Point S2 13997.3333
Daily Pivot Point S3 13938.6667
Daily Pivot Point R1 14143.6667
Daily Pivot Point R2 14202.3333
Daily Pivot Point R3 14246.1667

 

 

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