USD/MYR risks further pullbacks – UOB – by pabspiovano USDMYR Malaysia Currencies Crosses Banks
“We highlighted last Monday that ‘4.5290 is likely a short-term top’ and we expected USD/MYR to ‘edge lower but any decline is viewed as a lower trading range of 4.4500/4.5150’. Our view was not wrong even though USD/MYR traded in a narrower range of 4.4650/4.5130 before closing the week at 4.4830 . Downward momentum has improved, albeit not much.”
“This week, USD/MYR could edge lower to 4.4500. The next support at 4.4300 is unlikely to come under challenge. On the upside, a breach of 4.5100 would indicate that the current mild downward pressure has eased.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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