USDMYR Technical Analysis

The US Dollar is undecided against the Ringgit on Tuesday and is trading at 4.4160. The sentiment of indecision happens due to a weak macroeconomic agenda and the expectation of how the inflation data for the USD will come tomorrow with the Consumer Price Index (CPI). The CPI measures the change in the price of goods and services from the perspective of the consumer. It is a keyway to measure changes in purchasing trends and inflation. As US monetary policy is on the radar, investors seem to be waiting for the release of this data, as it can guide the next steps of the Federal Reserve (FED) regarding the interest rate for the Dollar. From a technical point of view, the USDMYR could drop as low as the 4.3650 region where it might find a temporary support.