AUD/IDR Tumbles as Intraday Sellers Erode Bullish Momentum

The AUD/IDR currency pair saw a decline of 0.93% yesterday as intraday sellers put pressure on the pair from session highs.

The downward movement was also triggered by overbought signals, which led to heavy short-term selling.

However, despite this drop, the AUD/IDR still maintains its bullish momentum, trading above all key moving averages, including the MA-20 (Rp12,579), MA-50 (Rp12,530), and MA-200 (Rp12,055).

The pair's price is currently at IDR 12589.69, with a nearest support level set at Rp12,579 and resistance at Rp12,709.