USD/IDR Price News: Indonesian rupiah buyers eye 21-day SMA re-test on upbeat Trade Balance at home


  • USD/IDR drops after Indonesia’s trade numbers dropped in August.
  • Indonesia’s Trade Balance grew past-$2.16 billion to $2.33 billion the previous month.
  • A confluence of 100-day SMA, ascending trend line from early June offers strong support.
  • A two-month-old rising trend line offers immediate key resistance.

USD/IDR stands on the slippery grounds near 14,825, down 0.77% on a day, during Tuesday’s Asian session. The pair’s recent drop can be traced to Indonesia’s August month trade numbers. In doing so, the quote defies the previous day’s upbeat performance while extending Friday’s U-turn from more than four month’s top.

Indonesian Exports dropped below -5.79% forecast to -8.36% whereas Imports recovered from -32.55% prior and -20.58% market consensus to -24.19% in the reported month. It should also be noted that the headline Trade Balance gained to $2.33B versus $2.16B expected and $3.26B prior.

The sellers are currently targeting 21-day SMA around 14,760 wherein the 14,800 threshold may offer an intermediate halt.

However, a joint of 100-day SMA and an ascending trend line from June 09, around 14,640/30, will question the bears then after.

On the contrary, the 15,000 psychological magnet offers adjacent resistance to the pair ahead of an upward sloping trend line from July 20, at 15,142 now.

USD/IDR daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 14824.5
Today Daily Change -115.0500
Today Daily Change % -0.77%
Today daily open 14939.55
 
Trends
Daily SMA20 14758.2121
Daily SMA50 14695.1685
Daily SMA100 14637.532
Daily SMA200 14563.8968
 
Levels
Previous Daily High 15037.5
Previous Daily Low 14863.895
Previous Weekly High 15140
Previous Weekly Low 14624.65
Previous Monthly High 14973.4
Previous Monthly Low 14414.8415
Daily Fibonacci 38.2% 14971.1829
Daily Fibonacci 61.8% 14930.2121
Daily Pivot Point S1 14856.4633
Daily Pivot Point S2 14773.3767
Daily Pivot Point S3 14682.8583
Daily Pivot Point R1 15030.0683
Daily Pivot Point R2 15120.5867
Daily Pivot Point R3 15203.6733

 

 

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