The US Dollar fell -0.38% against the Ringgit this Thursday and now trades at 4.7520. The downward movement comes after the price managed to break below 4.7630 on the daily chart, signalling an important change in the direction of the USDMYR. Today’s candle also shows a clear breakout of the uptrend line that was happening on the daily chart between March 13th and April 24th. Investors should pay attention to the release of US Nonfarm Payrolls data tomorrow, as this indicator has the potential to cause great volatility in the market. From a technical point of view, as USDMYR managed to break below 4.7630, it is possible that the price could fall to the 4.7200 region in a few days.
USDMYR Technical Analysis
