USD/IDR Price News: Rupiah struggles to cheer upbeat Indonesia trade data near $14,200


  • USD/IDR retreats towards monthly low after two-day downtrend.
  • Indonesia Trade Balance, Imports and Exports all flashed welcome numbers for October.
  • DXY tracks softer US Treasury yields to step back from 16-month high.

USD/IDR reverses intraday gains, dropping back to $14,195 ahead of Monday’s Asian session. The Indonesia Rupiah (IDR) pair recently witnessed downside pressure following the firmer trade numbers from the Asian nation.

That said, Indonesia's Trade Balance jumped past $4.37B to $5.74B in October whereas the Imports and Exports also rose beyond the previous releases of 40.31% and 47.64% to 51.06% and 53.35% respectively.

Also positive for the IDR are the latest chatters over upbeat China data and Sino-American talks.

It’s worth noting that the softer US Treasury yields weigh on the US Dollar Index (DXY) by the press time, down 0.10% around 95.00. The reason could be linked to the mixed concerns over the Fed rate hike and US stimulus.

Looking forward, USD/IDR traders may remain cautious ahead of Thursday’s Bank Indonesia rate decision, expected to announce no change in the benchmark rates. However, Tuesday’s US Retail Sales may test the pair sellers.

Technical analysis

Until rising back beyond 200-DMA, near $14,350 by the press time, USD/IDR bears stay on the way to May’s low around $14,090.

Additional important levels

Overview
Today last price 14195.3
Today Daily Change -0.4000
Today Daily Change % -0.00%
Today daily open 14195.7
 
Trends
Daily SMA20 14233.24
Daily SMA50 14240.496
Daily SMA100 14339.767
Daily SMA200 14346.0259
 
Levels
Previous Daily High 14305
Previous Daily Low 14175.2
Previous Weekly High 14374
Previous Weekly Low 14175.2
Previous Monthly High 14373.25
Previous Monthly Low 13716.9
Daily Fibonacci 38.2% 14224.7836
Daily Fibonacci 61.8% 14255.4164
Daily Pivot Point S1 14145.6
Daily Pivot Point S2 14095.5
Daily Pivot Point S3 14015.8
Daily Pivot Point R1 14275.4
Daily Pivot Point R2 14355.1
Daily Pivot Point R3 14405.2

 

 

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