USD/IDR: Scope for further upside near term – UOB

Pablo Piovano FXStreet

According to Quek Ser Leang at UOB Group’s Global Economics & Markets Research, there is still room for extra gains in USD/IDR.

Key Quotes

“We expected USD/IDR to trade with an upside bias last week and we highlighted that resistance levels are at 14,408 and 14,448. Our expectations did not materialize but earlier today, USD/IDR edged above 14,408.”

“We still see upside risk for this week even though the major resistance at 14,448 is likely out of reach. Support is at 14,340.”

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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