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(Z1) Off Lows, But Remains Weak


Still Vulnerable


Bullish Price Sequence

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Spot USD/IDR is little changed on the day, with participants looking ahead to the announcement of Bank Indonesia's monetary policy decision. Most analysts expect Indonesian policymakers to leave the policy rate unchanged, as mentioned in our usual preview.

  • Spot USD/IDR last changes hands at IDR14,242. Bears need a fall through Sep 10 low of IDR14,203 before taking aim at Jun 11/Sep 7 lows of IDR14,185/14,182. Conversely, a push through the 200-DMA at IDR14,220 would open up Aug 31 high of IDR14,345.
  • USD/IDR 1-month NDF last seen -38 figs at IDR14,293. Downside focus falls on Sep 7/Jun 11 lows of IDR14,201/14,198, while bulls set their sights on the 200-DMA at IDR14,365.
  • On Monday, Indonesia announced further relaxation of some restrictions for non-essential workers. The country declared its lowest daily count of infections in more than a year.