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- Pair is currently trading around 3.9420 marks.
- It made intraday high at 3.9955 and low at 3.9400 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 4.0086.
- A sustained break above key resistance will drag the parity towards 4.0214/4.0640/4.0933 marks.
- Alternatively, reversal from key resistance will drag the parity down around 3.9136 levels.
We prefer to take short position in USD/MYR around 3.9505, stop loss 4.0086 and target 3.9136 marks.
