USD/IDR: Extra rangebound seems probable – UOB

Pablo Piovano FXStreet

USD/IDR is still seen navigating the 14,330/14,405 range according to Quek Ser Leang at UOB Group’s Global Economics & Markets Research.

Key Quotes

“We expected USD/IDR to trade between 14,330 and 14,440 last week. USD/IDR subsequently traded in a quiet manner and within a narrower range than expected (14,350/14,397).”

“The quiet price actions offer no fresh clues and USD could continue to trade sideways. Expected range for this week, 14,330/14,405.”

“Looking ahead, if USD/IDR closes above 14,405, it could trigger a move higher to 14,450.”

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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