JAKARTA: Rupiah is potentially consolidating today amid optimism in the market, bringing the stock index to arrive at new record high last weekend, BNI Treasury Research Division said.
With the index staying at overbought level and prone to profit taking, the rupiah exchange rate will be weighed down.
"The negotiation on European debt issue is still a warning for the market, signaling the rupiah to move in limited range," the state lender's Head of Research Nurul Eti Nurbaeti wrote in her report.
The bank set the support-resistance levels at IDR8,490-IDR8,565 per US dollar. It suggests to 'buy' at IDR8,515 and 'sell' at IDR8,540. (NOM)
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