USD/IDR bounces off ten-week-old horizontal support, eyes 50-day SMA. Bank Indonesia (BI) is expected to stand pat, USD/IDR may keep corrective pullback. Key resistance lines stand tall to challenge bulls. USD/IDR wavers around multi-day-old horizontal support, despite a recent bounce to 14,025, during early Thursday. In doing so, the quote also justifies the Indonesian rupee (IDR) traders’ cautious sentiment ahead of the BI rate decision. Read: USD/IDR to advance nicely towards 13,800 by end-2021 – Standard Chartered While the expected no change in Bank Indonesia’s monetary policy and challenges for China, amid Biden Presidency, could weigh on the IDR, which in turn can propel the quote towards a 50-day SMA level of 14,120. However, the quote’s upside past-14,120 will be challenged first by the weekly resistance line and then a falling trend line from September 2020, respectively around 14,170 and 14,300. On the contrary, a surprise announcement will have to break the stated immediate support near 14,000 to direct USD/IDR sellers toward an ascending support line from November, at 13,895 now. In a case where the USD/IDR bears dominate past-13,895, the previous yearly low near 13,725 will be in focus. USD/IDR daily chart Trend: Pullback expected 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 GBP/USD shrugs off UK’s virus woes as bulls attack 1.3700 on upbeat mood FX Street 2 years USD/IDR bounces off ten-week-old horizontal support, eyes 50-day SMA. Bank Indonesia (BI) is expected to stand pat, USD/IDR may keep corrective pullback. Key resistance lines stand tall to challenge bulls. USD/IDR wavers around multi-day-old horizontal support, despite a recent bounce to 14,025, during early Thursday. In doing so, the quote also justifies the Indonesian rupee (IDR) traders’ cautious sentiment ahead of the BI rate decision. Read: USD/IDR to advance nicely towards 13,800 by end-2021 – Standard Chartered While the expected no change in Bank Indonesia’s monetary policy and challenges for China, amid Biden Presidency, could weigh on the IDR, which in… 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.
