USD/IDR stays depressed near two-week low, bears attack intraday bottom off-late. 200-SMA, lower line of weekly falling channel test further downside. Bank Indonesia is widely expected to keep benchmark rate unchanged near 3.5%. USD/IDR fails to extend the bounce-off intraday low while teasing $14,500 during early Tuesday. In doing so, the Indonesian rupiah takes the bids ahead of the Bank Indonesia (BI) Rate Decision. However, 200-SMA and short-term descending channel’s lower line, respectively around $14,480 and $14,460, challenge the pair’s immediate downside. It’s worth mentioning that the BI is likely to keep benchmark rates unchanged near 3.5% but fears of growth prospects and the coronavirus (COVID-19) can trigger the USD/IDR bounce. Though, the previous support line from March 17, around $14,550, followed by the stated channel’s upper line near $14,580, should restrict the short-term recovery moves. Meanwhile, USD/IDR bears’ dominance below $14,460 will eye for the December 2020 high surrounding $14,330. USD/IDR four-hour 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 EUR/USD now looks to 1.2115.- UOB FX Street 2 years USD/IDR stays depressed near two-week low, bears attack intraday bottom off-late. 200-SMA, lower line of weekly falling channel test further downside. Bank Indonesia is widely expected to keep benchmark rate unchanged near 3.5%. USD/IDR fails to extend the bounce-off intraday low while teasing $14,500 during early Tuesday. In doing so, the Indonesian rupiah takes the bids ahead of the Bank Indonesia (BI) Rate Decision. However, 200-SMA and short-term descending channel's lower line, respectively around $14,480 and $14,460, challenge the pair's immediate downside. It's worth mentioning that the BI is likely to keep benchmark rates unchanged near 3.5% but fears of… 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.
