The US Dollar rose against the Ringgit on Thursday and is now trading at 4.4030. The recent bullish move comes after Fed Chairman Mr. Jerome Powell reaffirmed his commitment to containing the rise in the price of goods, products, and services in the US economy, which is at the highest level in the last 40 years. Price stability remains one of the Fed’s main objectives at the moment. From a technical point of view, USDMYR remains in an important region of resistance on the chart. There is also a classic divergence happening on the daily chart with the relative strength index indicator. If the price manages to break below 4.3980, it can drop to 4.3690 in a few days.
