USD/MYR is still seen within the 4.1620-4.2150 range for the time being, noted Quek Ser Leang at UOB Group’s Global Economics & Markets Research.

Key Quotes

“USD/MYR has been trading between 4.1620 and 4.2150 since the start of the year. Daily MACD is ‘flattish’ and USD/MYR could continue to trade between 4.1620 and 4.2150 for a while more.”

“Looking ahead, the downside risk appears to be greater but USD/MYR has to break the major support levels near 4.1610/4.1620 before a sustained decline is likely.”