# USD/MYR faces strong resistance around 4.2000 – UOB — Octa

> UOB analyst Quek Ser Lean expects USD/MYR rallies to meet tough resistance at 4.2000 after the pair fell 1.13% in the week to August 23, its biggest weekly drop in a year. Conditions are deeply oversold, and support sits near 4.1660 and 4.1450.

- Date: 2021-08-30 · published 2021-08-30T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/45812-usd-myr-faces-strong-resistance-around-4-2000-uob-octa
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Currency technicals point to limited further ringgit appreciation near term, so the cost of dollar-priced feed imports for Malaysia is unlikely to fall much further.

## Read by commodity

- USDMYR: neutral

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/921235/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.