The US Dollar rose +0.08% against the Ringgit at the beginning of the trading session, only to fall again and now trades with a loss of -0.02% from the day’s opening at 4.7370. The downward movement comes after the price managed to break below the support region on the daily chart at 4.7650. From a technical point of view, USDMYR is above an ascending trendline on the daily chart, which could act as support in the short term. If USDMYR manages to break below the 4.7300 area, it is possible that the price could fall to the 4.6750 region in a few days. On the other hand, if the price breaks above the 4.7520 level, it is possible that USDMYR could rise to the 4.7900 region in a few days, where it should encounter important resistance on the daily chart.
USDMYR Technical Analysis
