The US Dollar fell -0.13% against the Ringgit this Monday and is now trading at 4.7750. The downward movement comes after USDMYR touched the resistance region on the daily chart at 4.7900. This is the third time that USDMYR has touched this same resistance region since October 2023. There is also an ascending triangle on the daily chart, which means that the buyers are causing pressure to eventually break above the resistance level at 4,7950. From a technical point of view, if USDMYR manages to break below the 4.7700 area, it is possible that it could fall to the 4.7250 region within a few days. On the other hand, if the price manages to break above 4.800, USDMYR could reach 4.8000 over the next few months.
USDMYR Technical Analysis
