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- Pair is currently trading at 4.0992 levels.
- It made intraday high at 4.1081 and low at 4.0780 levels.
- Intraday bias remains bullish for the moment.
- A daily close below 4.0700 will turn the bias bearish again and drag the parity towards key support level at 4.0086 marks.
- Alternatively, current rebound from 4.0700 levels will take the parity higher around 4.1430 levels.
- Overall trend remains bearish till the time pair holds key resistance levels at 4.2194 levels.
We prefer to take long position in USD/MYR around 4.0950, stop loss 4.0700 and target 4.1430 levels.
