USD/MYR looks consolidative in the 4.1200-4.1470 range – UOB

Further consolidation is forecast in USD/MYR for the nonce , likely between 4.1200 and 4.1470, consistent with Quek Ser Leang at UOB Group’s Global Economics & Markets Research.

Key Quotes
“Our expectation for USD/MYR to strengthen last week didn’t materialize because it traded during a quiet manner between 4.1295 and 4.1460.”

“Momentum indicators are mostly neutral, and USD/MYR could still consolidate for in the week , likely between 4.1200 and 4.1470.”

“Looking ahead, the downside risk appears to be greater albeit any weakness is predicted to encounter solid support at the rising trend-line (currently at 4.1050).”

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 will not in any way encounter as a recommendation to shop for or sell in these assets. you ought to do your own thorough research before making any investment decisions. FXStreet doesn’t in any way guarantee that this information

admin

Read Previous

EUR/JPY Price Analysis: Corrective downside is overdue

Read Next

USD/IDR risks a move lower near-term – UOB

Leave a Reply

Your email address will not be published. Required fields are marked *