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USDMYR - Malaysia Ringgit Strengthening

U.S. DOLLAR / MALAYSIAN RINGGIT (FX_IDC:USDMYR)  
thebitspace Updated   
FX_IDC:USDMYR   U.S. DOLLAR / MALAYSIAN RINGGIT
Trend Analysis Beyond Technical Analysis malaysia ringgit USDMYR
2
0
trendanalysis beyondta malaysia ringgit usdmyr
Ringgit is strengthening, probably due to rising oil price and institutional position.
If 4.18 support does not hold, likely fall to at least to 4.15
Comment:
While maintaining Overnight Policy Rate (OPC) unchanged at 3%, the central bank said it may consider reviewing the current degree of monetary accommodation.

An unexpected hint about potential removal of accommodative stance sent the Ringgit higher across the board.

Press release:
www.bnm.gov.my/index.php?ch=en_pres...
Comment:
4.16 now
Comment:
4.13 now, see more downside
Trade closed: target reached
Comment:
Update:

USDMYR - Support turned Resistance

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USDMYR - Support turned Resistance
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