AUD/IDR Selloff Persists Amid Mixed Momentum and Regulatory Shifts
The Australian Dollar vs Indonesian Rupiah (AUD/IDR) pair is currently trading at Rp12,012, reflecting a daily decline of 3.62%. The pair remains below key moving averages, indicating ongoing selling pressure. Indonesia has recently formalized new regulations to attract foreign investment in clean energy, potentially boosting long-term demand for the Indonesian Rupiah (IDR). The new rules allow 100% foreign ownership of power plants above 1MW and reduce the minimum paid-up capital for such projects to IDR2.5 billion.
Technical analysis shows AUD/IDR trading below the MA-20 at Rp12,461, MA-50 at Rp12,435, and MA-200 at Rp12,390, with the Ichimoku Kijun sitting at Rp12,166 as immediate resistance. Momentum indicators present a mixed outlook: the MACD suggests a possible upward bias, while the ADX is neutral and the RSI stands at 51.17, indicating modest buying conditions. Additional oscillators like Stoch RSI, CCI, and Bull/Bear Power are oversold, reflecting short-term selling dominance.
Over the next two to three trading days, AUD/IDR is expected to fluctuate within a range of Rp11,816 to Rp12,455. There is a 65% likelihood of an upward movement, as projected by momentum signals. A decisive break above the Ichimoku Kijun resistance at Rp12,166 could signal a shift toward bullish momentum, while a drop below Rp11,816 would suggest a continuation of the downtrend.
Analysts note that AUD/IDR has been in a sustained bearish trend due to persistent selling pressure. Indonesia's moves to attract foreign capital add further significance to cross-border investment flows as a key risk factor, making the Rp12,166 resistance level crucial to monitor for any potential reversal in momentum.