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- USDIDR could extend its race higher towards 16,300 on a move above 15,810/15,880 – SocGen
USDIDR could extend its race higher towards 16,300 on a move above 15,810/15,880 – SocGen
USDIDR has experienced a steady uptrend. The pair could reach 16,300 on a break past the 15,810/15,880 resistance zone, economists at Société Générale report.
Important support aligns at 15,070
“USDIDR is inching towards the objective of 15,810/15,880 representing a bearish gap formed in 2020. Achievement of this hurdle is likely to result in a pause, however, signals of a deeper downtrend are not yet visible.”
“July high of 15,070 is expected to be an important support.”
“If the pair establishes itself beyond 15,810/15,880, the up move could extend towards projections of 16,000 and 16,300.”
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