The US Dollar fell -0.16% against the Ringgit at the beginning of the trading session this Wednesday, only to recover throughout the day. USDMYR now trades at 4.7750, with a loss of just -0.06% from the opening price. The main market sentiment is one of indecision, as the USDMYR was unable to break either above or below the April 22nd candle. The Durable Goods Orders data came in slightly higher than expected (2.6% actual versus 2.5% forecast) and this is what caused the USDMYR to recover a little throughout the day. From a technical point of view, USDMYR needs to break below 4.7700 to resume its downward movement, which could cause USDMYR to fall towards the 4.7250 region in a few days.
USDMYR Technical Analysis
