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    Asian equities could take a boost after strong gains seen on US equities

    Asian equities may trade on the back foot as traders took profits during Wall Street session

    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities observe positive start as optimism on Wall Street echoes

    Asian equities could trade with negative bias reflecting caution awaiting Nvidia’s earnings report

    Asian equities could take a boost after strong gains seen on US equities

    Asian equities likely to trade within narrow range following volatile session on Wall Street

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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    Asian equities could take a boost after strong gains seen on US equities

    Asian equities may trade on the back foot as traders took profits during Wall Street session

    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities observe positive start as optimism on Wall Street echoes

    Asian equities could trade with negative bias reflecting caution awaiting Nvidia’s earnings report

    Asian equities could take a boost after strong gains seen on US equities

    Asian equities likely to trade within narrow range following volatile session on Wall Street

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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USDMYR Technical Analysis

Dyogenes Rodrigues Diniz
January 4, 2023
in Forex
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USDMYR Technical Analysis
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The US Dollar remains sideways against the Ringgit on Wednesday and is now trading at 4.4020. The recent indecision movement can be seen in the formation of a sideways channel, which keeps the price between the 4.4360 and 4.3850 levels. The sentiment of indecision is also a reflection of the low volatility characteristic of the end of the year, when many financial market professionals take some days off to get together with their families for Christmas and New Year. From a macroeconomic point of view, Malaysia shows good numbers of economic recovery after the Covid-19 crisis. Malaysia’s unemployment rate is currently the lowest since February 2020, at 3.6%. Just by way of comparison, unemployment in the US is at 3.7%. These numbers point to a possible appreciation of the MYR against the USD over the coming months. From a technical point of view, USDMYR needs to break above 4.4360 or below 4.3850 before setting a more precise direction.

Tags: USD/MYR
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