In the view of Markets Strategist at UOB Group Quek Ser Leang, the downside momentum could drag USD/IDR to the 15,280 region.

Key Quotes

“The sharp drop in USD/IDR last week was accompanied by strong downward momentum and further losses are likely this week. The support levels to watch are at 15,280 and 15,100”.

“Resistance is at 15,560, a break above 15,640 would indicate that the weakness in USD/IDR has stabilized.”