OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/IDR could attempt a move to 13.830 – UOB

Quek Ser Leang from UOB Group’s Global Economics & Markets Research noted the pair could advance to the 13.830 area in the near term.

Key Quotes

USD/IDR dropped to 13,565 on 24 Jan, recovered slightly before soaring to a high of 13,730 earlier today (03 Feb). Daily MACD turned positive last week, the first time since early Dec last year. The 13,565 low is deemed as a short-term bottom and the current advance is likely the early stages of a corrective rebound. In other words, USD/IDR is not expected to move back below 13,565, at least for the next one month so. As the nearest resistance of note is some distance away at 13,830 (declining trend line that sits near the middle of the trading envelope), USD/IDR could stage a relatively rapid rebound towards this level. On a shorter-term note, in order to maintain the current positive momentum, USD/IDR should ideally not move back below 13,650.”

US Dollar Index flirts with the 100-day SMA above 97.80

The US Dollar Index (DXY), which gauges the greenback vs. a basket of its main competitors, is trading on a flat note in the 97.80 region. US Dollar I
Read more Previous

USD/CHF Price Analysis: Buyers aim for further upside towards 0.9700

USD/CHF holds on to recovery gains with 0.10% upside to 0.9672 ahead of the European session on Tuesday.
Read more Next
Start livechat