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Ringgit Within Recent Ranges

MYR

The Ringgit has opened dealing little changed from Thursday's closing levels, USD/MYR remains well within recent ranges and moves have had little follow through.

  • USD/MYR prints at 4.6680/4.6720, the pair is ~0.1% softer today.
  • Bulls look to break the 20-Day EMA (4.6788) to target the 4.80 handle. Bears now target a break of the 200-Day EMA (4.6126) to re-establish a downtrend, a break of the measure opens the low from 31 Jul at 4.4957.
  • A reminder that yesterday Foreign Reserves from Nov 30 printed at $12.3bn, ticking higher from the prior read of $110.5bn.
  • Looking ahead, on Monday October Industrial Production is due. A rise of 2.5% Y/Y is expected.

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