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May Lows Hold Rate regained the....>

DOLLAR-IDR TECHS
DOLLAR-IDR TECHS: May Lows Hold
Rate regained the modest losses seen early Monday as the May 02 low held. Bulls
now look for a retake of the nearby 55-dma, although they ultimately need to
reclaim the 200-dma at 14478 to turn things back in their favour. Reclaiming
this level would allow them to turn their focus to the May 22 high at 14528.
Conversely, a breach of the May lows would would open the 100-dma at 14185. A
break below here would suggest a run at the April 18 low at 14000 ahead of the
Feb 6 low at 13898.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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