USD/MYR could extend the uptrend beyond 4.40 – UOB

Market news

9 May 2022

USD/MYR could extend the uptrend beyond 4.40 – UOB

According to Quek Ser Leang at UOB Group’s Global Economics & Markets Research, further upside in USD/MYR could see the 4.40 level retested in the near term.

Key Quotes

“At the time of writing, USD/MYR just edged above 4.3800. Strong upward momentum suggests a break of 4.4000 would not be surprising.”

“However, the 2020 high of 4.4410 is likely out of reach for now. Support is at 4.3350 followed by 4.3200.”

Currencies. Daily history for Monday, May 9, 2022

Commodities. Daily history for Friday, May 6, 2022

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.