USD/IDR May Grind Higher But Momentum Still Low

        0224 GMT [Dow Jones] USD/IDR may grind higher along the daily Bollinger uptrend channel toward the next round-figure trading barrier at 12,300. The bullish technical chart signal came into effect Wednesday but the last two doji candlesticks on the daily chart suggest momentum is still low. USD/IDR is now looking bullish on the daily, weekly and monthly chart--the latter contingent on a November close above 12,180. Bank Indonesia on Thursday kept its monetary policy unchanged as expected, leaving interest rates at 7.5%. The central bank reiterated its anti-inflationary stance, reviving expectations that a rate hike is coming once Indonesia's fuel subsidy-cuts take place. USD/IDR is now 12,200, unchanged from its Thursday close. (ewen.chew@wsj.com)
        (END) Dow Jones Newswires

        November 13, 2014 21:24 ET (02:24 GMT)

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