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    Midday Brief – The dollar surrenders some ground as risk appetite emerges

    Midday Brief – The dollar surrenders some ground as risk appetite emerges

    Are Short USDJPY traders trapped?

    Are Short USDJPY traders trapped?

    Forex Technical Analysis – Malaysian Ringgit

    USDMYR Technical Analysis

    AUDJPY technically still bullish, as risk sentiment turns very bearish

    AUDJPY technically still bullish, as risk sentiment turns very bearish

    Sea of red, but not the Santa kind

    A risk-off start to the day as global equities lose ground

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USDMYR Technical Analysis

Dyogenes Rodrigues Diniz by Dyogenes Rodrigues Diniz
May 13, 2022
in Forex
Reading Time: 1 min
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USD/MYR Technical Analysis
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The US Dollar was lower against the Ringgit on Thursday and is now trading at 4.3750. After several consecutive days of bullish moves, the USDMYR falls due to the increase in the interest rate for the Ringgit. The expectation was that the interest rate would remain unchanged at 1.75%, however, to the market’s surprise, it rose to 2%. This signals a certain tightening in the monetary policy of Malaysia, which has recently faced problems with inflation, especially in food. From a technical standpoint, USDMYR is strongly overbought, signalled by the Relative Strength Index reading at 80.25. The RSI shows signs of buyer exhaustion as it reads above 70. With interest rates rising and buyers tiring, the USDMYR could drop as low as 4.2400 in a few months.

Tags: monetary policyUSD/MYR
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Dyogenes Rodrigues Diniz

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