The US Dollar rose +0.3% against the Ringgit this Monday and now trades at 4.7160. The upward movement occurs as a natural market reaction after the recent fall between February 20th and March 12th. The market could be a little sideways over the next few days, due to the decision on the interest rate for the USD, which will be made on Wednesday. The expectation of most experts is that the Federal Reserve (FED) will not change the USD interest rate yet. If the FED keeps the interest rate unchanged, the USDMYR could fall over the next few days. From a technical point of view, USDMYR is in a resistance region on the daily chart. Considering that the price has already shown strong signs of rejecting the historic high on February 20th, it is possible that the downward movement will resume in the coming days. If the price manages to break below 4.7000, USDMYR could fall to the previous support region at 4.6750.
USDMYR Technical Analysis
