7640827 7/12/2017 5:12 PM, USD/MYR intraday: below its lower Bollinger band


Our pivot point stands at 4.3035.


Our preference

: the downside prevails as long as 4.3035 is resistance.


Alternative scenario

: the upside breakout of 4.3035, would call for 4.3130 and 4.3180.


Comment

: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 4.2953 and 4.2963). Finally, the USD/MYR has penetrated its lower Bollinger band (4.2941).


Supports and resistances

:

4.3180 **

4.3130 *

4.3035 **

4.3000

4.2938 last

4.2830

4.2775 **

4.2720 *

4.2665 **