AUD/IDR Sees Minor Gains Amid Ongoing Selling Pressure

The Australian Dollar versus Indonesian Rupiah (AUD/IDR) currency pair has seen some minor gains, but traders remain cautious due to ongoing selling pressure. Despite testing resistance at IDR 12,438, the pair remains below its short- and medium-term moving averages, indicating a bearish bias.

According to technical indicators, the AUD/IDR is near oversold territory, with momentum indicators flashing sell alerts. The MACD and ADX indicators signal a strong bearish trend, while the RSI stands at 38.38 and CCI remains negative, highlighting a lack of bullish momentum.

The analysis suggests that traders should watch for a potential breakdown below the 200-day moving average at IDR 12,382 as the next key risk event. With volatility projected to persist within a broad range, the expected range for the next five days is IDR 11,930 to IDR 12,930 with more than 80% probability of a decline.