USD/MYR could now debilitate towards the 4.3570 region – UOB

Pablo Piovano FXStreet

In the opinion of Markets Strategist at UOB Group Quek Ser Leang, USD/MYR could lose further momentum and visit the 4.3570 zone in the short-term horizon.

Key Quotes

“Last week, USD/MYR traded in a relatively quiet manner between 4.3850 and 4.4050 before closing little changed at 4.4010 (+0.02%). USD/MYR dropped below 4.3850 today and downward momentum is beginning to build.”

“This week, USD/MYR is likely to trade with a downward bias toward last month’s low of 4.3570, possibly 4.3400. Resistance is at 4.4050, followed by 4.4200.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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