USD/IDR upside run out of steam in the 13770 region on Thursday. The 200-week SMA, today at 13783, offers initial resistance. The BI reduced the policy rate by 25 bps to 4.75% earlier on Thursday. The Indonesian rupiah is losing further ground in the second half of the week, lifting USD/IDR to as high as the 13770 region, pips below the key 200-week SMA. USD/IDR higher post-BI decision, USD-buying The pair climbed to fresh monthly tops arund 13770 earlier in the session and following the decision by the Bank Indonesia (BI) to cut the policy rate by 25 bps, matching markets’ consensus. In fact, investors have already anticipated the move by the central bank, which aims mainly to contain the negative effects on the economy of the outbreak of the Chinese coronavirus (COVID-19). In addition, the BI revised lower its forecasts for domestic growth and it now sees the GDP expanding 5.0%-5.4% during the current year (from 5.1%-5.5%). Furthermore, the bank expects the loan growth target at 9%-11% (from 10%-12%)m, while inflation and current account predictions were left unchanged. Moving forward, the rupiah is expected to remain under scrutiny in light of prospects of further easing by the central bank, particularly following forecasts of lower economic growth and steady inflation. USD/IDR levels to watch At the moment, the pair is advancing 0.13% at 13732.0 and faces the next resistance at 13770.0 (monthly high Feb.20) seconded by 13783.9 (200-week SMA) and then 13803.4 (55-day SMA). On the other hand, a drop below 13669.0 (21-day SMA) would aim for 13620.0 (monthly low Feb.6) and finally 13560.0 (2020 low Jan.24). 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 WTI firmer, targets $54.00 ahead of the EIA FX Street 2 years USD/IDR upside run out of steam in the 13770 region on Thursday. The 200-week SMA, today at 13783, offers initial resistance. The BI reduced the policy rate by 25 bps to 4.75% earlier on Thursday. The Indonesian rupiah is losing further ground in the second half of the week, lifting USD/IDR to as high as the 13770 region, pips below the key 200-week SMA. USD/IDR higher post-BI decision, USD-buying The pair climbed to fresh monthly tops arund 13770 earlier in the session and following the decision by the Bank Indonesia (BI) to cut the policy rate by 25 bps, matching… 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.