The Dollar has fallen against the Ringgit this Monday, marking a fake breakout of the resistance area around the 4.1550. This opens up the possibility for the USDMYR to resume the downtrend I am the next few days and go for the 4.12 level. This week investors will pay attention to the Non-Farm Payroll, due on Friday. Should this number come higher than expected, the dollar will likely gain more value against the Ringgit.
The Ringgit has gained some ground against the Chinese Yuan this Monday, accumulating 0.8% of growth since the beginning of June. This increase in the value of the Ringgit is due in part because of the good vaccination rate in Malaysia right now, with about 16% of the population with at least one shot. The infection curve is also declining from its highest peak, in the beginning of June. Economists are also optimistic about the economic recovery in Malaysia. From a technical point of view, if the price breaks above the 1.5564, it is likely to fluctuate to the 1.5700 in a matter of 10 to 20 days.
