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USD/IDR hits fresh 3-month low, BI rate decision in focus

Pair is well supported below 13400 marks and hit fresh 3 month low at 13335 levels. 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%…

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USD/IDR hits fresh 3-month low, BI rate decision in focus
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  • Pair is well supported below 13400 marks and hit fresh 3 month low at 13335 levels.

  • 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 above 13400, stop loss 13284 and target 13600.

 

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