USD/IDR is expected to trade in the 14,395-14,550 range in the next weeks, according to Quek Ser Leang of UOB Group’s Global Economics & Markets Research.
“‘There is opportunity for USD/IDR to touch 14,490 first before softening,’ we said last week. Instead of ‘testing’ 14,490, USD/IDR broke over it on Friday (02 July) and soared to a high of 14,565.”
“Given the overbought conditions and today’s lackluster opening, the USD/IDR seems unlikely to strengthen any further. USD/IDR is more expected to consolidate this week, trading between 14,395 and 14,550.”/n
