- Pair is currently trading around 4.1335.
- It made intraday high at 4.1470 and low at 4.1356 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 4.1501.
- A sustained break above key resistance will drag the parity towards 4.1786 marks.
- Alternatively, reversal from key resistance will take the parity back around 4.10, 4.07 and 4.0086 (August 2016 low) levels thereafter.
We prefer to take short position in USD/MYR around 4.1350, stop loss 4.1501 and target 4.1010 levels.
