Further gains likely in USD/IDR – UOB

USD/IDR is expected to pick up further traction with the next target at 14,408 ahead of 14.448, suggested Quek Ser Leang at UOB Group’s Global Economics & Markets Research.

Key Quotes

“USD/IDR traded between 14,310 and 14,385 last week, narrower than our expected range of 14,270/14,380… with Daily MACD turning higher, the bias for the rest of this week is on the upside.”

“Resistance is at 14,408 followed by a rather strong level at 14,448.”