The US dollar is holding the range between 106.13 and 107.20. We shot up to the upper bound where we are meeting resistance again, confirmed by a red triangle on the KRI. It is likely that we will continue to range before the FOMC. A 100bps rate hike is expected by some sources. This will likely cause a rally in the dollar and we may break out of the range. If so, 108.50 is the next target. We should have support at 106.13 and 105.78 otherwise.
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