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Spot USD/IDR last operates at IDR14,482, barely changed on the day. Bears look for losses past the floor of a channel drawn off Jul 2 high, which intersects at IDR14,453. A clean break here would open up the Jun 28 low/100-DMA at IDR14,415/14,413. Conversely, a rebound above Jul 21/2 highs of IDR14,559/14,568 would turn bullish focus to IDR14,633-14,635, which capped gains on Apr 13 - 15.
- USD/IDR 1-month NDF last at IDR14,526, just shy of neutral levels. Bears look for a dip through Jul 16 low of IDR14,487, while bulls eye Jul 20 high of IDR14,676 for initial resistance.
- As a reminder, Indonesia extended its lockdown measures by a week through Aug 2, but Pres Widodo pledged adjustments to allow SMEs to operate under strict health guidelines. Officials have also ramped up contact tracing in a bid to stop the spread of new Covid-19 infections.
- Indonesian data docket is virtually empty during the remainder of this week. Meanwhile, Indonesia's Investment Coordinating Board will unveil Q2 investment data today.