USD/IDR Price News: Indonesian Rupiah stays pressured ahead of BI Rate decision


  • USD/IDR prints three-day uptrend while attacking 50-day SMA.
  • Five-month-old resistance line, 100-day SMA adds to the upside filters.
  • Ascending trend line from November offers immediate support.
  • Bank Indonesia (BI) is expected to announce 0.25% rate cut.

USD/IDR picks up bids around 14,060, up 0.10% intraday, during early Thursday. In doing so, the quote rises for the third consecutive day, currently attacking 50-day SMA, despite the previous day’s pullback from falling trend line resistance established since October 11.

Considering the expected 0.25% rate cut from the Indonesian central bank, coupled with the strong RSI conditions, USD/IDR is likely to cross the immediate hurdle of 14,080 while trying to cross the key resistance line, currently around 14,150.

However, 100-day SMA and the yearly high, respectively near 14,250 and 14,300, could challenge USD/IDR bulls afterward.

In case of a surprise no rate cut, USD/IDR may revisit a three-month-long support line, at 13,940 now, before eyeing the yearly horizontal support around 13,850.

Should, the USD/IDR bear dominate past-13,850, November 2020 low of 13,726 will return to the charts.

Overall, BI’s rate is the key event for USD/IDR traders that have been witnessing sideways moves so far in 2021.

USD/IDR daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 14062.5
Today Daily Change 14.3000
Today Daily Change % 0.10%
Today daily open 14048.2
 
Trends
Daily SMA20 14034.1548
Daily SMA50 14078.8374
Daily SMA100 14255.1655
Daily SMA200 14430.0237
 
Levels
Previous Daily High 14156.25
Previous Daily Low 13925
Previous Weekly High 14052.3
Previous Weekly Low 13921.324
Previous Monthly High 14303.5
Previous Monthly Low 13849.3475
Daily Fibonacci 38.2% 14067.9125
Daily Fibonacci 61.8% 14013.3375
Daily Pivot Point S1 13930.05
Daily Pivot Point S2 13811.9
Daily Pivot Point S3 13698.8
Daily Pivot Point R1 14161.3
Daily Pivot Point R2 14274.4
Daily Pivot Point R3 14392.55

 

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD flat lines above mid-0.6700s ahead of Australian jobs data

AUD/USD flat lines above mid-0.6700s ahead of Australian jobs data

AUD/USD attracts some dip-buyers on Thursday, around the 0.6820 region. Against the backdrop of the RBA's hawkish stance, the upbeat market mood acts as a tailwind for the pair. That said, persistent concerns over an economic slowdown in China, along with a modest USD uptick, cap the upside as traders await Australian employment figures.

AUD/USD News
NZD/USD advances to near 0.6200 due to risk-on mood, Fed interest rate decision awaited

NZD/USD advances to near 0.6200 due to risk-on mood, Fed interest rate decision awaited

The NZD/USD pair edges lower to near 0.6200 during the early Asian session on Thursday. The recent GDP data revealed that New Zealand's economy shrank again in the second quarter, suggesting the depths of its economic malaise.

NZD/USD News
Gold price stalls post-FOMC pullback from all-time peak; lacks firm intraday direction

Gold price stalls post-FOMC pullback from all-time peak; lacks firm intraday direction

Gold price oscillates in a range on Thursday and consolidates the previous day's post-FOMC rejection slide from the $2,600 mark or a fresh record high. Persistent geopolitical risks, along with signs of economic trouble in the US and China, lend support to the safe-haven metal.

Gold News
Australian Unemployment Rate expected to hold steady at 4.2% in August

Australian Unemployment Rate expected to hold steady at 4.2% in August

The Australian Bureau of Statistics will release the monthly employment report at 1:30 GMT on Thursday. The country is expected to have added 25K new positions in August, while the Unemployment Rate is foreseen to remain steady at 4.2%.

Read more
Ethereum could rally to $2,817 following Fed's 50 bps rate cut

Ethereum could rally to $2,817 following Fed's 50 bps rate cut

Ethereum (ETH) is trading above $2,330 on Wednesday as the market is recovering following the Federal Reserve's (Fed) decision to cut interest rates by 50 basis points. Meanwhile, Ethereum exchange-traded funds (ETF) recorded $15.1 million in outflows.

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Forex MAJORS

Cryptocurrencies

Signatures