- USD/MYR risks a deeper decline near term – UOB
Noticias del mercado
6 noviembre 2023
USD/MYR risks a deeper decline near term – UOB
In the opinion of Markets Strategist Quek Ser Leang at UOB, USD/MYR could revisit the 4.6480 region in the near term.
Key Quotes
We highlighted last Monday (30 Oct, spot 4.7540) that “the drop in USD/MYR has increased the likelihood of a pullback to 4.7430, possibly 4.7320.” While our view for USD/MYR to weaken was correct, the anticipated pullback exceeded our expectations as it dropped to a low of 4.7260 last Friday.
In Asian trade today, USD/MYR gapped down upon opening, and the outlook for USD/MYR remains negative. This week, it could drop further to 4.6480. The next support at 4.6300 is likely out of reach. Resistance is at 4.7200, followed by 4.7400.
Enfoque del mercado
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 disclaimerAbrir cuenta demo y página personal