The US Dollar fell -0.21% against the Ringgit this Tuesday and now trades at 4.7170. The recent bearish movement comes after USDMYR managed to break below the rising trend line and a key support region on the daily chart at 4.7350. Yesterday the USDMYR also registered a downward move of -0.21% and considering yesterday’s high at 4.7470 and today’s closing price, the USDMYR has already accumulated -0.64% drop, signalling an important acceleration of selling force on the daily chart. From a technical point of view, USDMYR could fall towards the 4.6750 region over the next few days, where it should find an important support region on the daily chart. An upward movement could happen only if the price manages to break above 4.7500 again.
USDMYR Technical Analysis
