USD/IDR Price News: Rupiah pares losses below $14,400 as Indonesia Exports ease in July

• USD/IDR extends bounce off intraday low following downbeat Indonesia Exports for July.
• USD rebound also favors the bulls but full trade details, FOMC Minutes awaited.

USD/IDR trims intraday losses to -0.29% by stretching the early Asian corrective pullback to $14,390 ahead of Wednesday’s European session.

Although the US dollar’s pullback from the weekly top favor the USD/IDR bears, the recent release of Indonesia’s July month Exports, 29.32% versus 30.2% expected and 54.46%, recently favored the recovery moves.

It should be noted, however, that the grim Delta covid variant conditions in the Asia-Pacific, with the latest addition of New Zealand to the line, favor the USD/IDR bulls.

Though, the full details of the Asian nation’s July month international trade performance and the Federal Open Market Committee (FOMC) Minutes are likely to be the catalysts to watch for fresh direction.

Technical analysis

Unless marking a daily close below an ascending support line from early May, near $14,350, USD/IDR buyers remain hopeful.