The US Dollar was lower against the Ringgit on Tuesday and is now trading at 4.1780. Even on a public holiday in the US the market moved quite aggressively, largely due to tensions between Russia and Ukraine, which seem to get worse every day. Later the Consumer Confidence can provide an overview of the state of the US economy. From a technical point of view, USDMYR is approaching a support region at 4.1717. If it manages to break this support down, it could drop to 4.1400 in a few days. On the other hand, if it manages to break above the resistance at 4.1950, it can move up to 4.2400, where it should meet another important resistance. At the moment the market remains sideways within a triangle formation and is unlikely to make any major moves unless it breaks out of this formation.
