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Extra gains in USD/IDR look likely, although a sustained advance beyond 15,245 seems off the table suggests UOB Group’s Market Strategist Quek Ser Leang.
“Our expectations for USD/IDR to ‘advance further’ last week did not materialize as it traded in a relatively narrow range of 15,139/15,225. The underlying tone still appears to be a tad firm and USD/IDR is likely to edge higher to 15,245.”
“Barring a sudden surge in momentum, a sustained rise above 15,245 is unlikely (next resistance is at 15,270). Support is at 15,130, followed by 15,000.”
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