#USDMYR @ 4.57500 now seen trading within 4.5200-4.6400 – UOB
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
USD/MYR is now predicted to remain side-lined between 4.5200 and 4.6400 in the near term, according to Markets Strategist at UOB Group Quek Ser Leang.
“We highlighted last Monday (14 Nov, spot at 4.5840) that the uptrend in USD/MYR has ended. We added, ‘the pullback has room t extend but a sustained decline below 4.5500 is unlikely’. The anticipated weakness exceeded our expectations as USD/MYR plummeted to 4.4950 before rebounding. The rebound amid oversold conditions suggests USD/MYR is unlikely to weaken further.”
“This week, USD/MYR is more likely to trade sideways between 4.5150 and 4.6400.”
[/s2If]
Join Our Telegram Group
