USD/IDR is struggling to beat the 4-hour 50-candle moving average for the second day. The IDR could lose altitude in the near-term on speculation Indonesia’s central bank is set to begin a new easing cycle later this year. USD/IDR’s corrective bounce from the April 17 low of 13,990 is struggling to beat the resistance of the 4-hour hart 50-candle moving average (MA) of 14,084. That descending average had worked as a stiff resistance yesterday. The progressive incumbent leader Joko Widodo won a second term as Indonesia’s President last week, sending the IDR down to two-month highs. The IDR, however, has come under pressure this week, possibly due to speculation that Indonesia’s central bank would begin a new easing cycle later this year. Many analysts, however, believe that even after rate cuts, the Indonesian government bonds would offer attractive returns in real terms compared to their US counterparts. As a result, the downside in the IDR could be limited. Indonesia’s central bank is seen holdings its 7-day reverse repurchase rate at 6 percent this Thursday, according to all 23 analysts polled by Reuters. Pivot points FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin price analysis: BTC/USD defies bearish sentiments amid record volatility growth FX Street 4 years USD/IDR is struggling to beat the 4-hour 50-candle moving average for the second day. The IDR could lose altitude in the near-term on speculation Indonesia's central bank is set to begin a new easing cycle later this year. USD/IDR's corrective bounce from the April 17 low of 13,990 is struggling to beat the resistance of the 4-hour hart 50-candle moving average (MA) of 14,084. That descending average had worked as a stiff resistance yesterday. The progressive incumbent leader Joko Widodo won a second term as Indonesia's President last week, sending the IDR down to two-month highs. The IDR, however, has… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.