USD/IDR continues to consolidate in a narrow range. Indonesia’s central bank expects the rupiah to revisit pre-coronavirus pandemic levels. The Indonesian rupiah is trading in the sideways manner around 14,760 at press time. The currency has been restricted to a narrow range of 14,740-14,780 since May 22. The consolidation is preceded by an uptrend from 16,737 per US dollar to 14,735 per US dollar. Indonesia’s central bank thinks the currency has the potential to rise back to pre-coronavirus pandemic levels of around 13,600 to 13,800 per US dollar. Central bank’s head Warjiyo said on Thursday that the credit default swap has dropped since the market panic and may decline further, and once risk appetite returns to normal, the IDR would strengthen to reflect its fundamentals. So far, however, Warjioy’s comments have failed to entice the IDR bulls. That said, the pair could soon witness an increase in volatility as a prolonged period of low volatility range-bound action, similar to the one we are witnessing currently, often ends up in a big move in either direction. Technical levels 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 Ethereum Classic Chart: ETC/USD gains 4% in the Asian session on Friday FX Street 3 years USD/IDR continues to consolidate in a narrow range. Indonesia's central bank expects the rupiah to revisit pre-coronavirus pandemic levels. The Indonesian rupiah is trading in the sideways manner around 14,760 at press time. The currency has been restricted to a narrow range of 14,740-14,780 since May 22. The consolidation is preceded by an uptrend from 16,737 per US dollar to 14,735 per US dollar. Indonesia's central bank thinks the currency has the potential to rise back to pre-coronavirus pandemic levels of around 13,600 to 13,800 per US dollar. Central bank's head Warjiyo said on Thursday that the credit default swap… 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.
