- Analytics
- News and Tools
- Market News
- USD/IDR: There is a robust hurdle at 15,840 – UOB
USD/IDR: There is a robust hurdle at 15,840 – UOB
Further upside momentum in USD/IDR should meet strong resistance around 15,840, suggests Markets Strategist Quek Ser Leang at UOB Group.
Key Quotes
Our view for USD/IDR to weaken further last week was incorrect. Instead of weakening further, USD/IDR rebounded from 15,500 to 15,710 and ended the week at 15,690 (-0.22%). The rebound only resulted in a slight increase in momentum.
This week, while there is room for USD/IDR to rebound further, any advance is highly unlikely to break above the major resistance at 15,840 (minor resistance is at 15,770). Support is at 15,615, followed by 15,570.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
