USD/IDR: Scope for further upside near term – UOB
|According to Quek Ser Leang at UOB Group’s Global Economics & Markets Research, there is still room for extra gains in USD/IDR.
Key Quotes
“We expected USD/IDR to trade with an upside bias last week and we highlighted that resistance levels are at 14,408 and 14,448. Our expectations did not materialize but earlier today, USD/IDR edged above 14,408.”
“We still see upside risk for this week even though the major resistance at 14,448 is likely out of reach. Support is at 14,340.”
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.