USD/IDR risks a move lower near-term – UOB

Pablo Piovano FXStreet

In opinion of Quek Ser Leang at UOB Group’s Global Economics & Markets Research, USD/IDR could revisit the 14,225 level in the very near-term.

Key Quotes

“Our expectation from last week for USD/IDR to ‘test 14,420’ did not materialize as it traded in a quiet manner between 14,270 and 14,360.”

“The underlying tone has softened somewhat and USD/IDR could drift lower to 14,225 this week. A sustained decline below this level is unlikely. On the upside, 14,395 is acting as a solid resistance level now.”

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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