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Ringgit Marginally Softer On The Day But Close To Multi-Week Highs

MYR

Spot USD/MYR sits above Tuesday close, last +7 pips at MYR4.1812. Its 50-DMA crossed above the 100-DMA earlier this week, stoking hopes for some bullish momentum, with the pair still operating in close proximity to multi-week lows. A break above Dec 20 high of MYR4.2300 would shift topside focus to Dec 15 high of MYR4.2387. Conversely, a fall through the ascending 200-DMA at MYR4.1672 would reassure bears.

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