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Marginally Firmer, BNM On Tap

MYR

USD/MYR prints at 4.4560/4600, the pair is down ~0.1% as the ringgit marginally firms on Wednesday.

  • The pair printed its highest level since mid-March yesterday, however narrow ranges continue to persist. USD/MYR continues to consolidate above the 20-Day EMA, rallies have been capped ahead of 4.47 with support seen at 4.45.
  • Bulls can target year to date highs at 4.5317. Bears first look to break the 20-Day EMA (4.4402) to turn the tide.
  • BNM is on tap today, the market is expecting the bank to hold the Overnight Policy Rate steady at 2.75%. The MNI preview is here

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