Further upside not ruled out in USD/IDR – UOB
USD/IDR looks poised to extend the uptrend although it faces a tough barrier around 14,990, according to FX Strategist Quek Ser Leang at UOB Group’s Global Economics & Markets Research.
Key Quotes
“We expected USD/IDR to break the declining trend-line resistance last week. Our view was not wrong as USD/IDR edged above the trendline last Friday (02 Sep) before rising sharply upon opening today. Rapid improvement in upward momentum suggests USD/IDR is likely to advance further.”
“For this week, USD/IDR is unlikely to challenge the resistance at 14,990. On the downside, support is at 14,840 followed by 14,790.”
Reprinted from FXStreet_id,the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.