Extra consolidation likely in USD/IDR – UOB

There is still scope for USD/IDR to keep navigating within a 15,185-15,300 range for the time being, suggests Markets Strategist Quek Ser Leang at UOB Group.

Key Quotes

Last week, we expected USD/IDR to trade sideways between 15,240 and 15,340. However, it traded in a lower range of 15,210/15.298.

There is no clear increase in downward momentum and we continue to expect USD/IDR to trade sideways, probably between 15,185 and 15,300.