USD/MYR To Trade Higher Near-term

http://www.fxfxfx.com 2010-01-22 08:53:12

USD/MYR to trade higher near-term amid rising risk aversion, tracking USD/Asians. Dealer with local bank-backed brokerage said traded volume was heavy yesterday amid concerns China monetary tightening still weighing on sentiment. 'We think there''''s likely to be more buying of dollars in the immediate term,' he added, tipping 3.3600-3.3800 range for today. Technicals show slow stochastic indicators support USD/MYR positive bias as indicator corrects higher from oversold. Immediate resistance at 3.3800 (psychological), then 3.3883 (50-day moving average). Support at 3.3600 (61.8% Fibonacci retracement of 2Q08-2Q09 rally), then 3.3272

[Print] [Close]

Related Articles

• USD/TWD Lower; May Test Key 32.000 Support
• USD/THB Has Slight Upward Bias
• GBP/USD To Consolidate With Risks Skewed Lower
• USD/JPY To Trade With Upward Bias
• EUR/USD To Consolidate With Bearish Bias
• USD/IDR Higher; Bank Indonesia Eyed Selling $1
• Bank of China, January 26, 2010 U.S. dollar ex
• USD/PHP To Be Range-bound With Neutral Bias
• USD/KRW To Consolidate With Positive Bias
• USD/TWD To Consolidate With Positive Bias