USD/IDR: Flat lined below 14,100, voting begins in Indonesia Presidential Elections

  • USD/IDR is comatose in Asia, having closed below key moving average support earlier this week. 
  • Voting in Indonesian Presidential and Legislative elections began at 7 am local time. 
  • Victory for incumbent Joko Widodo could bode well for IDR. 

USD/IDR is trading largely unchanged on the day at 14,080 at press time, having found acceptance under the 50-day moving average (MA) on Monday.

Voting has begun in the eastern part of Indonesia in the first simultaneous Presidential and Legislative elections. 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. After all, the incumbent is seen as a progressive leader, as the Indonesian economy has expanded by a solid 5 percent during his term in power.

The voting, which began at 7 am local time in restive Papua, will end at 1 pm in Sumatra. The exit polls will hit the wires 3 pm onwards, post which USD/IDR volatility may rise.  

Technical Levels

USD/IDR

Overview
Today last price 14080
Today Daily Change -7.0000
Today Daily Change % -0.05
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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