USD/IDR could extend the upside above 14,405 – UOB
|In opinion of Quek Ser Leang at UOB Group’s Global Economics & Markets Research, USD/IDR could edge higher and surpass the 14,405 level.
Key Quotes
“At the time of writing, USD/IDR appears poised to break clearly above the major resistance at 14,405 (declining trend-line resistance). A clear break of this level is likely to lead to further USD/IDR strength.”
“The next resistance level of note is at Dec’s high of 14,448. Support is at 14,345 but only a break of 14,325 would indicate that the current upward pressure has eased.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.