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USD/MYR dropped onto its 100-DMA.........>

DOLLAR-MYR
DOLLAR-MYR: USD/MYR dropped onto its 100-DMA yesterday, but failed to make
headway beyond there and pulled back ahead of the close. Topside momentum
remains as spot has ticked higher since the re-open today. It last trades +45
pips at MYR4.2665.
- Malaysia's ex-PM Najib Razak said that should domestic political turmoil
continue, it is very likely that the nation will head to the voting booths soon.
He noted that the health ministry and election commission will start preparing
procedures for polls.
- Bulls look to take out Apr 30 low of MYR4.2890, a former breakout level,
before targeting the 23.6% retracement of the Mar 23 - Jun 3 bear mkt at
MYR4.2973. Meanwhile, a dip below the 100-DMA/yesterday's low at
MYR4.2531/4.2505 is needed to return bears to the driving seat.
- Malaysia's trade balance is due for release later today.

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