Rupiah Predicted to Strengthen: Expert

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  • Kebijakan Tekan Dolar Gerus Rp 10 Triliun Pajak

    Kebijakan Tekan Dolar Gerus Rp 10 Triliun Pajak

    TEMPO.CO, Jakarta - Investa Saran Mandiri predicted that Rupiah’s exchange would potentially strengthen against the US dollar.

    “Rupiah will strengthen,” Kiswoyo Adi Joe, a managing partner of PT Investa Saran Mandiri, said in his research as quoted by Bisnis on Saturday, June 6, 2015.

    Kiswoyo explained that the support level would be at around 13,165 to 12,800, and the resistance level would be somewhere between 13,295 and 13,400.

    Using a technical analysis, Kiswoyo added, a golden cross would occur and the MACD line would move to above zero. Kiswoyo continued that there would be a negative divergence between the price and the MACD, opening an opportunity for the rupiah to strengthen in the middle run.

    Meanwhile, the stochastic oscillator would enter an overbought area opening an opportunity for rupiah to strengthen in the short run.

    “The flow of funds had been flat last week. The price moved toward upper Bollinger band,” Kiswoyo said.