Further range bound seen in USD/IDR – UOB

Pablo Piovano FXStreet

USD/IDR is forecast to navigate the 14,200-14,330 range for the time being, in opinion of Quek Ser Leang at UOB Group’s Global Economics & Markets Research.

Key Quotes

“USD/IDR dropped to 14,170 in late Dec before rebounding quickly. The rapid rebound amidst waning momentum indicates that downward pressure has eased.”

“The current movement is viewed as part of a consolidation phase and USD/IDR is likely to trade between 14,200 and 14,330 for this week.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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