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

 

 

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