The dollar could test the 115 yen threshold depending on how the U.S. jobs report turns out
KUALA LUMPUR: The US dollar-Ringgit exchange rate is forming a death-cross pattern, which in the past has led to a decline in the currency pair, based on technical charts.
Bloomberg reported on Wednesday that this death-cross pattern occurs when a 50-day moving average drops below the 100-day gauge.
It said on the previous three occasions this move took place, the dollar posted additional losses of 3%, 3% and 7% before finding a bottom.
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