USD/IDR faces the next support at 15,280 – UOB

Pablo Piovano FXStreet

In the view of Markets Strategist at UOB Group Quek Ser Leang, the downside momentum could drag USD/IDR to the 15,280 region.

Key Quotes

“The sharp drop in USD/IDR last week was accompanied by strong downward momentum and further losses are likely this week. The support levels to watch are at 15,280 and 15,100”.

“Resistance is at 15,560, a break above 15,640 would indicate that the weakness in USD/IDR has stabilized.”

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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