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Rupiah Rangebound

IDR

Spot USD/IDR has been rangebound in early trade, amid little in the way of notable local news flow. The pair operates at IDR14,268, 5 figures below neutral levels, with bearish focus falling on IDR14,250, which limited losses yesterday. A retreat under this figure would open up Jun 11 low of IDR14,185. Meanwhile, bulls look for an upswing past Aug 27 high of IDR14,445.

  • USD/IDR 1-month NDF last seen +9 figures at IDR14,292. The 200-DMA at IDR14,359 provides the initial bullish target, while Aug 31 low of IDR14,243 draws bearish attention.
  • Local consumer confidence gauges headline the local data docket next week.

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