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.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CHF Price Analysis: Buyers aim for further upside towards 0.9700 FX Street 2 years 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… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
