The US Dollar rises +0.26% against the Ringgit this Thursday and is now trading at 4.7020. Despite the upward movement, the market’s main sentiment is one of indecision, as the USDMYR reached an increase of +0.54% at the beginning of the trading session, only to fall throughout the day. The upward movement was driven by the release of S&P Global Services PMI data, which came in much higher than expected (54.8 real against 51.2 forecast). Another economic data that favoured the USD today was the Initial Jobless Claims, which came in lower than expected (which tends to be positive for the USD). From a technical point of view, today’s candle signals a possible continuation of the previous downward movement. If the price manages to break below the 4.6750 level, it could fall to the 4.6350 region in a few days.
USDMYR Technical Analysis
