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    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities observe positive start as optimism on Wall Street echoes

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    Asian equities could take a boost after strong gains seen on US equities

    Asian equities likely to trade within narrow range following volatile session on Wall Street

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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    Asian equities could take a boost after strong gains seen on US equities

    Asian equities may trade on the back foot as traders took profits during Wall Street session

    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities observe positive start as optimism on Wall Street echoes

    Asian equities could trade with negative bias reflecting caution awaiting Nvidia’s earnings report

    Asian equities could take a boost after strong gains seen on US equities

    Asian equities likely to trade within narrow range following volatile session on Wall Street

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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USDMYR Technical Analysis

Dyogenes Rodrigues Diniz by Dyogenes Rodrigues Diniz
May 13, 2022
in Forex
Reading Time: 1 min read
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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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