USDMYR Technical Analysis

The US Dollar continues to lose ground against Ringgit and is now trading at 4.1460. The Ringgit gained even more strength after the health minister, Mr. Khairy Jamaluddin announced that he is creating a committee to give a booster Covid-19 jab to people who have already taken the vaccine. At the moment, the main focus of the Ministry of Health is to apply the vaccine to people who have not yet taken any dose, but by the end of September, the plan to boost the vaccine will be announced. This brought greater peace of mind to investors and caused Ringgit to rise further on Thursday. From a technical point of view, the USDMYR may continue to fall towards 4.1200, where it will encounter an important level of support and likely buying pressure.