USD/IDR: Rupiah unfazed near 14,150 post-Bank Indonesia’s status-quo


At its April monetary policy meeting on Thursday, Indonesia’s central bank, Bank Indonesia (BI), decided to maintain its 7-day reverse repo rate at 6.00%, disappointing expectations of a rate cut.

With Indonesian President Joko Widodo making a renewed effort to boost economic growth as he prepares for a second term in office, markets had priced-in the central bank to cut rates in its attempt to spur growth.

Meanwhile, the Indonesian Central Bank Governor Perry Warjiyo told reporters on Tuesday that the policies will be maintained towards controlling the country’s widening current account deficit and keeping its financial assets attractive for investors.

On the status-quo decision by the Indonesian central bank, the Indonesian Rupiah (IDR) remained little affected against its American counterpart, with the USD/IDR cross maintaining its upside consolidative mode near 14,150 levels.

The technical set up remains in the favor of the bulls, should the spot close above the channel hurdle of 14,145, as explained by FXStreet’s Analyst, Omkar Godbole.

USD/IDR Technical Levels

USD/IDR

Overview
Today last price 14152
Today Daily Change -14.7500
Today Daily Change % -0.10
Today daily open 14171.5
 
Trends
Daily SMA20 14133.575
Daily SMA50 14145.792
Daily SMA100 14208.7175
Daily SMA200 14490.8345
Levels
Previous Daily High 14180
Previous Daily Low 14059
Previous Weekly High 14158.5
Previous Weekly Low 13974.25
Previous Monthly High 14416
Previous Monthly Low 14056.5
Daily Fibonacci 38.2% 14133.778
Daily Fibonacci 61.8% 14105.222
Daily Pivot Point S1 14093.6667
Daily Pivot Point S2 14015.8333
Daily Pivot Point S3 13972.6667
Daily Pivot Point R1 14214.6667
Daily Pivot Point R2 14257.8333
Daily Pivot Point R3 14335.6667

 

 

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