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Little Changed In Early Dealing, 20-Day EMA Provides Support Yesterday

MYR

The Ringgit is little changed in early dealing on Thursday, there has been a muted start in the broader Asian FX space as participants have one eye on this evening’s US CPI print.

  • In yesterday's session the 20-Day EMA (4.5674) provided support to USD/MYR as broader USD trends dominated flows, the pair pared losses to finish ~0.1% lower than opening levels. We sit at 4.5720/50 this morning.
  • Bulls focus on the high from 13 July at 4.6237. Bears first target the 200-Day EMA (4.5037).
  • A reminder that the local docket is empty until next Friday (18th) when Q2 GDP crosses.

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