The morphological analysis explores the structural ambiguity of the words derived in the un-V-able pattern. Then the investigation of the interpretation of such ambiguous words in context shows that the interpretation, following the ordered-access model, is affected by the general language proficiency and contexts, but not by the frequency of the morphological components, and that Chinese EFL learners hold a strong right-branching bias, and hardly get access to the left-branching reading due to their incomplete morphological representation, and in turn, their inflexible morphological parsing and computing.