USDMYR is up +0.16% from its opening price this Thursday and now trades at 4.7830. Despite the upward movement in relation to the opening, the main feeling is downward, as today’s price opened lower than the closing price of yesterday’s candle. Today the opening price was 4.7750 and yesterday’s close was 4.7900, the highest price in history. From a technical point of view, this gap (the difference between the closing price of one day and the opening price of the next) could signal a possible false break of the resistance at 4.7750. Another element that favours a view of a possible fall in USDMYR is the fact that today’s candle failed to reach yesterday’s closing price (at 4.7900). A bearish view could be confirmed if the price manages to break below 4.7630. If this happens, USDMYR could fall to the 4.7450 and 4.6850 region in a few days.
