USD/MYR could extend the uptrend beyond 4.40 – UOB

According to Quek Ser Leang at UOB Group’s Global Economics & Markets Research, further upside in USD/MYR could see the 4.40 level retested in the near term.

Key Quotes

“At the time of writing, USD/MYR just edged above 4.3800. Strong upward momentum suggests a break of 4.4000 would not be surprising.”

“However, the 2020 high of 4.4410 is likely out of reach for now. Support is at 4.3350 followed by 4.3200.”