USD/IDR could grind lower towards 14,220 – UOB

Quek Ser Leang at UOB Group’s Global Economics & Markets Research notes USD/IDR could slip back to the 14,220 area.

Key Quotes

“Last week, we expected USD/IDR to trade between 14,220 and 14,280. However, it rose to 14,330 before pulling back.”

“USD/IDR opened on a weak today and the bias for this week is tilted to the downside towards 14,220. Resistance is at 14,280 followed by 14,330.”