The US Dollar fell -0.19% against the Ringgit this Tuesday and is now trading at 4.6700. USDMYR has made a broad upward move since January this year and reached its highest price in history at 4.7925 on October 23rd. Since then, the USDMYR has entered a downward movement and now the price remains within a triangle formation on the daily chart. If the price manages to break below the 4.6350 area it could fall to the 4.5750 region in a few days. Depending on the selling strength, the USDMYR could continue to fall towards the 4.5150 region over the next few months, where it should find an important support region. Investors should pay attention to the release of US GDP data for Q3 tomorrow, as this news could significantly move the market.
USDMYR Technical Analysis
