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Rupiah Slips Ahead Of Holiday

IDR

Spot USD/IDR has crossed above resistance from Jan 6/Dec 21 highs of IDR14,399/14,400 and last sits +14 figs at IDR14,402. Further gains past Dec 6 high of IDR14,447 would reaffirm bullish momentum. Bears look for a fall through Jan 24 low of IDR14,307 before targeting Jan 11 low of IDR14,285.

  • USD/IDR 1-month NDF last +13 figs at IDR14,418. Topside focus falls on Jan 6 high of IDR14,470, with bears keeping an eye on Jan 13 low of IDR14,292.
  • Indonesian markets will be shut for Chinese New Year tomorrow. The holiday will precede the release of Markit M'fing PMI & CPI data on Wednesday.

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