USD/IDR now seen within 14,280-14,380 – UOB

Pablo Piovano FXStreet

Quek Ser Leang at UOB Group’s Global Economics & Markets Research noted USD/IDR is predicted to keep the 14,280-14,380 range in the near term.

Key Quotes

“USD/IDR traded between 14,275 and 14,375 for the whole of last week, higher than our expected consolidation range of 14,260/14,360. The relatively quiet price actions offer no fresh clues and we continue to expect USD/IDR to consolidate, likely within a range of 14,280/14,380.”

“Looking ahead, USD/IDR has to break below the rising trend-line support (currently at 14,240) or above the declining trend-line resistance (currently at 14,405) before a sustained directional movement is likely.”

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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