FXWIREPRO: Malaysian Ringgit Erases Previous Gain Against US Dollar, Good to Buy on Dips
1 April 2016, 07:46
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FXWIREPRO: Malaysian Ringgit Erases Previous Gain Against US Dollar, Good to Buy on Dips
- Pair is currently trading around 3.9033 marks.
- It made intraday high at 3.9058 and low at 3.8818 levels.
- Intraday bias remains bullish till the time pair holds key support at 3.8720.
- A sustained break below key support will drag the parity down towards 3.8438, 3.8052 marks.
- Alternatively, reversal from key support will drag the parity up around 3.9136/3.9303/3.9955 levels.
We prefer to take long position in USD/MYR around 3.9050, stop loss 3.8720 and target 3.9136/ 3.9303 marks.
The material has been provided by InstaForex Company - www.instaforex.com
