USD/MYR: Testing key supports on softer USD – OCBC
OCBC’s strategists Sim Moh Siong and Christopher Wong observe USD/MYR nearing key support as markets price optimism over US–Iran negotiations and a softer US Dollar (USD). They stress that Malaysia’s growth momentum and higher commodity prices continue to underpin foreign inflows, with a stable Renminbi (RMB) anchoring Malaysian Ringgit (MYR). A falling wedge suggests possible bullish reversal, with focus on 3.90–3.92 support and a potential move toward 3.88.
Repricing geopolitics with firm fundamentals
"Markets are repricing quickly on optimism that US and Iran are considering a return to the negotiation table while USD continued to trade on a softer footing."
"Fundamentals have not shifted – growth momentum remains intact, alongside higher commodity prices – and these drivers should continue to underpin foreign inflows."
"Elsewhere, a stable RMB continues to provide an anchor for MYR."
"Falling wedge observed – typically associated with a bullish reversal."
"Some support coming in around 3.90-3.92 levels. A decisive break below may see MYR challenge 3.88."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Nothing in this material constitutes investment advice, personal recommendation, investment research, an offer, or a solicitation to buy or sell any financial instrument. The content has been prepared without consideration of your individual investment objectives, financial situation, or needs, and should not be treated as such.
Past performance is not a reliable indicator of future performance and/or results. Forward-looking scenarios or forecasts are not a guarantee of future performance. Actual results may differ materially from those anticipated.
Mitrade makes no representation or warranty as to the accuracy or completeness of the information provided and accepts no liability for any loss arising from reliance on such information.
Recommended Articles
