USD/MYR: No changes to the range bound theme – UOB

Pablo Piovano FXStreet

Markets Strategist Quek Ser Leang at UOB Group suggests further consolidation lies ahead for USD/MYR in the short-term horizon.

Key Quotes

Last week, we held the view that USD/MYR “could consolidate for a few days first before rising to 4.6700 later on.” Our view did not materialise, as USD/MYR traded in a relatively quiet manner between 4.6330 and 4.6570.

The price movements appear to be consolidative, and USD/MYR could continue to trade in a range this week, likely between 4.6200 and 4.6700.

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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