The US Dollar rises +0.27% against the Ringgit this Tuesday and is now trading at 4.7920. The recent move higher marks the third touch of the USDMYR’s all-time high since October 2023. This could mean that the USDMYR has the strength to break the all-time high at 4.7975 and aim for the 5.0000 region in the coming months. From a technical perspective, the USDMYR will need to break above the 4.8000 level to continue rising, but this is unlikely to happen without a pullback to the 4.7575 area, where it can find an important support on the daily chart.
USDMYR Technical Analysis
