USD/IDR could advance to the 15,160 region – UOB

Pablo Piovano FXStreet

Further upside in USD/IDR could challenge the 15,160 area in the near term, indicates UOB Group’s Markets Strategist Quek Ser Leang.

Key Quotes

Last week, we expected USD/IDR to trade sideways between 14,945 and 15,090. USD/IDR then traded in a higher range than expected (14,980/15,100). Upward momentum is beginning to improve, and this week, we expected USD/IDR to trade with an upward bias toward 15,160. The next resistance at 15,219 is highly unlikely to come under threat. Support is at 15,040, followed by 15,000.

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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