USD/IDR risks further downside near term – UOB

According to Markets Strategist Quek Ser Leang at UOB Group, USD/IDR could face some selling pressure in the short-term horizon.

Key Quotes

USD/IDR closed 1.00% lower at 14,835 last week. Downward momentum has increased somewhat and this week, USD/IDR is likely to edge lower but a sustained drop below 14,740 appears unlikely for now. Resistance is at 14,900, followed by 14,950.