USD/MYR: Rising bets for further upside – UOB – by pabspiovano USDMYR Malaysia Currencies Crosses Banks
“In our latest update from last Tuesday , we highlighted that ‘The underlying appears to be firm, and the bias for USD/MYR this week is still on the upside’. We noted that ‘there are a couple of strong resistance levels at 4.4410 and 4.4550’. The anticipated USD/MYR strength exceeded our expectations as it rose to a high of 4.4625 last Wednesday. Upward momentum has improved, albeit not by much.”. On the downside, a breach of 4.4200 would indicate that USD/MYR is not strengthening further.
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