Indonesian rupiah falls on interest rate cut fears

• 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.