USD/MYR Forecast, Prediction and Analysis Today

The USD/MYR climbed quickly as a response to the U.S Fed’s more hawkish sounding rhetoric than expected late yesterday, the USD/MYR is trading at values now last seen in the first week of August this year.

The US dollar initially rallied against the Malaysian ringgit during the trading session on Wednesday.

In my daily analysis of exotic currency pairs, the USD/MYR currency pair has caught my attention as we are sitting between 2 of the biggest moving averages that traders follow.

The USD/MYR has produced an intriguing couple of weeks via its value range, this as a perception grows that resistance levels are producing reversals lower on occasion.

The USD/MYR has produced a reversal the past handful of days after touching a high last Thursday around the 4.4890 ratio, but the lower move can be considered fragile.

During the trading session on Wednesday, the US dollar has continued its consolidation against the Malaysian ringgit, as we are sitting just below the crucial 4.5 MYR level, which also features the 200 Day EMA.

In early trading this morning the USD/MYR touched highs not seen since the middle of August, this as the 4.4200 ratio was approached, but a slight reversal lower was sparked a bit later.

As risks events abound in Forex the USD/MYR has seen its bullish trend continue to test higher resistance levels, but financial institutions may be beginning to contemplate new directions.

The USD/MYR has climbed again in trading today, and is touching highs seen a month and a half ago as financial institutions have clearly become increasingly

During my daily analysis of exotic currency pairs, the USD/MYR pair has caught my attention, as we are currently hanging around a large, round, psychologically significant figure in the form of the 4.30 MYR level.

The USD/MYR continues to see some buying activity as behavioral sentiment has turned cautious the past week and a half in the currency pair.

For an extended amount of time the USD/MYR exchange rate had been traversing record highs and the 4.7800 vicinity was a resistance level that was being challenged.

It’s obvious to me that the market is going to continue to be very weak, and although we have ended up forming a bit of a hammer, the reality is that this is a pair that is seen massive selling pressure.

Forex trading is rarely a one way street. Shifts in momentum can strike quickly and hurt day traders without any warning.

The ability of the USD/MYR to move lower today is noteworthy, because the selling of the currency pair continues to demonstrate financial institutions are leaning into a bearish outlook.