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200-DMA Now Resistance USDIDR......>

DOLLAR-IDR TECHS
DOLLAR-IDR TECHS: 200-DMA Now Resistance
USDIDR has seen some respite but the 200-dma is acting as resistance keeping the
bearish trend intact. A close above the 200-dma at 14319 is needed to open the
key 14500 level, above which would shift the focus back to the upside and
suggest a resumption of the longer term bullish trend. The pair continues to
trade at extreme oversold levels relative to its 50-dma (there have only two
more extreme occasions in the past decade). This suggests that at least a
slowdown in the rate of decline is likely.

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