USD/IDR: Supported at 14470 – Westpac

USD/IDR has been consolidating of late after the recent downward move, according to Westpac Institutional Bank. USD/IDR is sitting at 14885.

Key quotes

“USD/IDR looks to be supported at 14740 while resistance is at 15100.” 

“There is no sign that the virus outbreak is contained, while the government weighs easing some restrictions.” 

“BI rate decision is a close call where we see room for another rate cut from a real rate perspective.”