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18.01.2022 13:55

USD/MYR faces some consolidation near term - UOB

Quek Ser Leang at UOB Group’s Global Economics & Markets Research suggests USD/MYR could navigate within the 4.1680-4.2060 range.

Key Quotes

“The sharp drop in USD/MYR to a low of 4.1680 last week came a surprise (we were expecting USD/MYR to test the resistance at 4.2200). The rapid decline appears to be running ahead of itself and USD is unlikely to weaken further.”

“For this week, USD/MYR is more likely to consolidate between 4.1680 and 4.2060. Looking ahead, a break of 4.1680 is not ruled but any decline is expected to encounter solid support at 4.1620 followed by 4.1560.”

19.01.2022 08:15

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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
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Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
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Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
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European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
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London 07:00 16:00 10:00 19:00 10:00 19:00
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American New York 12:00 21:00 15:00 00:00 15:00 00:00
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Chicago 13:00 22:00 16:00 01:00 16:00 01:00