USD/IDR seen within 14,450-14,565 – UOB

In opinion of Quek Ser Leang at UOB Group’s Global Economics & Markets Research, USD/IDR is seen navigating the 14,450-14,565 range.

Key Quotes

“USD/IDR traded in a relatively quiet manner between 14,480 and 14,555 last week. Indicators are mostly ‘neutral’ and USD/IDR could continue to trade in a quiet manner, likely holding between the two major levels of 14,450 and 14,565.”

“Looking ahead, the downside appears to be more at risk but USD/IDR has to close below the 55-day exponential moving average (currently at 14,418) before a sustained decline can be expected.”