USD/IDR: No changes to the consolidative theme – UOB

Pablo Piovano FXStreet

USD/IDR faces some consolidation in the short-term horizon according to Markets Strategist Quek Ser Leang at UOB Group.

Key Quotes

Our expectations for USD/IDR to weaken last week was incorrect as it rebounded to a high of 15,032. The rebound lacks momentum and USD/IDR is unlikely to rise much further. This week, USD/IDR is more likely to trade sideways between 14,945 and 15,090.

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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