The US Dollar barely moved against the Ringgit this Wednesday and is now trading at 4.7400. The sentiment of indecision is clear because it is the third day in a row that the USDMYR has barely moved. An element that adds indecision to USDMYR is the fact that there is no relevant macroeconomic news throughout this week. From a technical point of view, USDMYR is at an important support region, characterized by the rising trend line on the daily chart. If the price manages to break below the 4.7300 level, it is possible that it could fall as low as 4.6750 in a few days. On the other hand, a break above the 4.7500 level could see USDMYR rise towards the 4.7900 region.
USDMYR Technical Analysis
