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).”

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