The USDMYR moved little this Wednesday, gaining just 0.05% compared to the day’s opening price. The main market sentiment is indecision, due to expectations regarding the interest rate decision for the USD. As the Federal Reserve (FED) decided to keep the interest rate unchanged at 5.5%, it is possible that the USDMYR will fall tomorrow at the market open, since when the central bank decides not to raise the interest rate, the effect tends to be currency devaluation in the short term. From a technical perspective, the Relative Strength Index (RSI) indicator was recently above 70, showing exhaustion on the part of buyers. USDMYR also touched an important resistance region on the chart. If the price manages to break below 4.7200, it could fall towards the 4.6500 region. Investors should pay attention to the release of American employment data on Friday, as this news could significantly move the market.
USDMYR Technical Analysis
