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Ringgit Ticks Higher In Early Trade

MYR

The Ringgit has ticked higher in early dealing today, USD/MYR faced resistance ahead of the 4.80 handle and has fallen ~0.3%.

  • The pair sits at 4.7685/4.7725, recent gains have only been trimmed and USD/MYR is ~6% above August's opening levels.
  • On the downside bears look to first break the 20-Day EMA (4.7401) which opens the low from 2 Oct (4.6900). The pair remains in an uptrend and bulls target a break of the 4.80 handle.
  • A reminder that the data calendar is empty this week. Looking ahead the next release of note is next Wednesdays S&P Global October Mfg PMI

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