- Pair is well supported above 13400 marks and recovers from fresh 3 month low at 13335 levels.
- It made intraday high at 13495 and low at 13395.
- BI is scheduled to release interest rate decision on its 17-18 February meeting.
- BI is likely to lower its interest rate by 25bp to 7.0% from 7.25%.
- If the rate cut takes place then IDR likely to fall against major peers.
- Major support levels are seen at 13335, 13285 and 13248 thereafter.
- On the other side, resistance levels are seen at 13495, 13636 and 13814 levels.
Trading Call:
Long USD/IDR at current price 13435, stop loss 13335 and target 13600.
