The US Dollar fell -0.09% against the Ringgit this Monday and is now trading at 4.6790. The main market sentiment is one of indecision, due to a weak macroeconomic agenda. Building Permits data for the month of October came in slightly higher than expected (1.498M current versus 1.487M forecast) but as the difference between expectation and reality was small, this was not enough to move the market. From a technical point of view, USDMYR is in a triangle on the daily chart. Triangle formations appear when price marks lower highs in a down trendline, while making higher lows in an uptrend. The price tends to move a lot when it breaks out one of those two trendlines. If the price manages to break below 4.6350 it could fall to the 4.5750 region in a few days.
