The US Dollar was up +0.43% against the Ringgit on Monday and is now trading at 4.4190. The upward movement takes place on a day of weak macroeconomic agenda and signals a possible recovery of the USD in relation to the downward movement of the previous days. Investors are increasingly paying attention to the USD as recently some of the BRICS countries have started to move towards using their own currencies for transactions and thus decreasing the number of operations involving the USD. From a technical point of view, the USDMYR has made a significant fall in the last few days and touched a support point at 4.3850. Friday’s candlestick showed an entry of buying force leaving a shadow to the downside. It is possible that the USDMYR will move up to 4.4650 where it should find a temporary resistance point.
