Euro vs Indonesian Rupiah sees a dip — What is pressuring the forex pair

Traders Union
All News
Financial News
Euro vs rupiah slides 0.66% today

Highlights

EUR/IDR is trading at Rp19,599.03, below its MA-20 (Rp19,878.32) and MA-50 (Rp19,846.94), but remains supported above the MA-200 (Rp19,472.20).
Momentum indicators (MACD, ADX) show daily bearish momentum, with RSI, Stochastic RSI, and CCI near oversold, signaling downside exhaustion and dominant sellers intraday.
Expected short-term trading range for EUR/IDR is Rp19,368.33 to Rp19,524.72, with a very high probability (80%+) of sideways consolidation or an upward move toward resistance at Rp19,873.

Anton Kharitonov, expert at Traders Union, notes the EUR/IDR pair is trading below both MA-20 and MA-50, confirming persistent short-term weakness. He points out that bearish momentum dominates according to MACD, ADX, and negative readings in other oscillators. Low volatility and an absence of news further dampen intraday sentiment and conviction among buyers. Kharitonov remains cautious despite the longer-term MA-200 support, emphasizing heightened risk if Rp19,368 is breached. "Sellers control this market for now, and caution is warranted until clear reversal signals emerge."

Viktoras Karapetjanc, expert at Traders Union, sees the current pullback as a corrective phase within a robust long-term uptrend, given the price remains above MA-200. He highlights that weekly indicators and strong probability for a rebound suggest the bullish structure is intact. Despite the lack of positive news catalysts, Karapetjanc believes improved sentiment can drive consolidation and renewed upside. The analyst expects the pair to find support and test resistance in the coming sessions. "Further growth is likely as technical exhaustion fades and the market resets for new highs."

Intraday selling pressure as downside momentum aligns across indicators

Momentum signals are weak, with both MACD and ADX showing bearish momentum on the daily timeframe. RSI and Stochastic RSI are flirting with oversold levels, as confirmed by the CCI, revealing that the market is approaching exhaustion on the downside, though BBP reflects waning buyer presence and sellers dominating intraday moves. The Awesome Oscillator's negative reading aligns with the prevailing downward trend. The price slipped Rp130.69 or 0.66% today, with no significant gap between the previous close and the current session’s open. The current price is near the lower end of today’s range, suggesting moderate volatility and ongoing pressure following the open. Most momentum and oscillator readings confirm the intraday selling mood, with no notable divergence among key indicators.

Last time, analysts noted that EUR/IDR remains in a strong uptrend, trading above its key 20-, 50-, and 200-day moving averages with robust momentum confirmed by bullish MACD, high ADX, and supportive oscillators. However, while dynamic support is identified at the Ichimoku Kijun and resistance near the recent round number, overbought signals from RSI and Bull/Bear Power warrant caution for potential short-term pullbacks within a consolidating range.

Source of Data: EUR Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.