The US Dollar fell -0.34% against the Ringgit this Thursday and is now trading at 4.7395. The downward movement comes after the release of US Initial Jobless Claims data, which came in higher than expected (221k actual against 213k forecast) and this tends to be negative for the USD. From a technical point of view, USDMYR is at a support region on the daily chart, which is the previous resistance that was broken on April 2nd. This is an important region on the chart because depending on how the price behaves near this level, it could define the next movements in USDMYR. If the price manages to break above 4.7600, it could rise as high as 4.7950 in the coming days. On the other hand, if USDMYR manages to break below 4.7320, it could fall towards the 4.6800 region. Investors should pay attention to the release of Nonfarm Payrolls data tomorrow, as this could move the market significantly.
USDMYR Technical Analysis
