USD/MYR Technical Analysis

The US Dollar has been falling against Ringgit for the past few days and is now trading at 4.1710. The ISM Non-Manufacturing PMI data for the month of September may bring some more important information to the US Dollar. As the ISM measures the health of the economy from a business perspective, a higher-than-expected reading could be taken as potentially positive for the Dollar. This week we will also have the Non-Farm Payroll, the most important macroeconomic indicator for understanding the health of the US economy. Should this number come higher than expected, it could make the dollar appreciate against the Ringgit. From a technical point of view, USDMYR may drop as low as 4.1600 before resuming the bullish trend.