The USDMYR has barely moved today and is now trading at 4.3690. The feeling of indecision can be explained by the lack of news scheduled for today. Investors are also wary because of the US Consumer Price Index (CPI) data, to be released later. The CPI measures the variation in the price of goods, products and services in the economy, and is a reading of inflation in the US. It is through this indicator that the Federal Reserve (FED) makes decisions regarding the next steps of monetary policy to be adopted in the US, so it is normal for the market to be quieter than usual before the release of important news. From a technical point of view, USDMYR is in a support region and if the price manages to break above 4.4060, it could rise as high as 4.4850 in a few days. If it breaks below the 4.3600 area, it may fall as low as 4.2500.
