• 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.

The material has been provided by InstaForex Company – www.instaforex.com