- Analytics
- News and Tools
- Market News
- USD/MYR faces a deeper pullback below 4.3870 – UOB
USD/MYR faces a deeper pullback below 4.3870 – UOB
USD/MYR could see its losses accelerate on a breach of 4.3870, according to Quek Ser Leang at UOB Group’s Global Economics & Markets Research.
Key Quotes
“We highlighted last Monday (13 Jun, spot at 4.4140) that ‘risk for USD/MYR is on the upside even though the 2020 high of 4.4410 is unlikely to come into the picture for now’. While USD/MYR advance as expected, it pulled back sharply after touching a high of 4.4240.”
“Upward momentum is weakening and a break of 4.3870 could lead to a deeper pullback to 4.3800, possibly 4.3670. For this week, the 55-day exponential moving average support at 4.3515 is not expected to come under threat. Resistance is at 4.4150 followed by 4.4240.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
